S&P upgrades Hero Asia

Standard & Poor’s said it raised its long-term corporate credit rating on Hero Asia Investment Ltd. to BBB+ from BBB. The outlook is stable.

S&P also raised the long-term Greater China regional scale rating on the company to cnA+ from cnA.

At the same time, S&P raised the issue ratings on Hero Asia’s senior unsecured notes to BBB+ from BBB- and raised the Greater China regional scale ratings on the notes to cnA+ from cnA-.

“We raised the rating on Hero Asia after we raised the rating on its parent China Longyuan Power Group Corp. Ltd. (Longyuan: A-/stable/--; cnAA/--),” 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.