S&P: Hutchison Whampoa securities BBB

Standard & Poor's said it assigned its BBB long-term issue rating and cnA+ Greater China regional scale rating to an issue of benchmark-size perpetual subordinated capital securities that Hutchison Whampoa Ltd. guarantees.

Hutchison Whampoa Europe Finance (13) Ltd., a 100%-owned special purpose subsidiary of Hutchison, will issue the euro-denominated securities.

S&P said it rated the perpetual securities two notches below the long-term corporate credit rating on Hutchison to reflect the securities' subordinated status and optional deferability.

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