S&P rates Nan Fung notes BBB-

Standard & Poor's said it assigned its BBB- long-term issue rating and cnA- long-term Greater China credit scale rating to the proposed issue of guaranteed five-year notes by Nan Fung Treasury (I) Ltd. Nan Fung International Holdings Ltd. guarantees the proposed notes.

According to S&P, the proposed issue has the same terms and conditions as the $350 million guaranteed notes that Nan Fung issued on Jan. 20. The company or its subsidiaries will use the proceeds of the notes for general working capital purposes.

The agency said the ratings on Nan Fung reflect the company's portfolio of large, diversified, and fairly liquid securities and good-quality investment properties.

© 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.