S&P gives TCCL notes BBB+

S&P said it gave a BBB+ long-term issue rating to the planned senior unsecured notes that TCCL (Finance) Ltd. plans to draw from its $2 billion medium-term note program.

Towngas Smart Energy Co. Ltd., rated BBB+, guarantees the MTN program, which is rated BBB+.

The company intends to use the proceeds to refinance debt, to fund capital expenditures and for general corporate purposes.

The outlook is stable.

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