S&P rates Hoang Anh Gia Lai B

Standard & Poor's said it assigned a B long-term corporate credit rating to Hoang Anh Gia Lai JSC, along with an axBB- Asean regional scale rating.

The outlook is positive.

The rating reflects the company's exposure to the cyclicality inherent in the mining and real estate industries, S&P said, and the capital intensity and project execution risk associated with its diversification into hydropower generation and rubber manufacturing.

The rating also considers the economic, political and regulatory risks of the countries in which the company operates, the agency said.

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