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S&P lifts Golden Eagle Retail
S&P said it raised its long-term issuer credit rating on Golden Eagle Retail Group Ltd. to BB from BB-. The outlook is stable.
At the same time, the agency raised the long-term issue rating on the company's senior unsecured notes to BB- from B+.
“We raised the ratings because we expect Golden Eagle's liquidity to improve over the next 12 months following the company's refinancing of its syndicated loan due in April 2018,” S&P said in a news release.
“We also expect Golden Eagle to maintain stable operating performance over the period despite tough retail conditions in China.”
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