S&P rates Longfor notes BBB-

S&P said it assigned its BBB- long-term issue rating to a proposed offering of U.S. dollar-denominated senior unsecured notes by Longfor Group Holdings Ltd.

“We rate the senior unsecured notes issued by Longfor one notch below the issuer credit rating because they rank behind a significant amount of secured debt in the capital structure,” said the agency in a press release.

Proceeds will be used to refinance debt.

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