Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Y > Headlines for Yihua Enterprise (Group) Co. Ltd. > News item |
S&P gives Yihua notes B-
S&P said it assigned a B- long-term issue rating to the proposed issue of dollar-denominated senior unsecured notes by Yihua Overseas Investment Ltd.
Yihua Enterprise (Group) Co. Ltd. (B/stable/--) will guarantee the notes.
The group intends to use a substantial portion of the net proceeds to refinance existing borrowings and replenish its working capital.
“We rate the proposed senior unsecured notes one notch below the corporate credit rating on Yihua group because the notes rank behind a significant amount of secured debt and debt issued by subsidiaries in the capital structure,” S&P said in a news release.
© 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.