Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Pioneer Reward Ltd. > News item |
S&P rates Huatai Securities notes BBB+
S&P said it assigned its BBB+ long-term issue rating to the planned U.S. dollar-denominated senior unsecured bonds that Huatai Securities Co. Ltd. will guarantee. Pioneer Reward Ltd., a special purpose corporation for issuances that Huatai Securities indirectly fully owns, will sell the notes. The issuance will be a draw down from Pioneer's $3 billion medium-term note program.
“We equalize the rating on the bonds with the issuer credit rating on China-based Huatai Securities (BBB+/stable/A-2). This reflects our view that the guarantee is irrevocable, unconditional, and timely, and therefore qualifies for rating substitution treatment,” S&P said in a press 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.