S&P gives Yanlord notes BB-

S&P said it assigned a BB- rating to Yanlord Land (HK) Co. Ltd.’s proposed dollar-denominated senior notes. The notes will be guaranteed by Yanlord Land Group Ltd., which has a BB rating.

Proceeds will be used for project development and acquisition and for general corporate purposes.

Though guaranteed by Yanlord Land Group, the notes are rated a notch below BB because of subordination risks, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.