S&P cuts Shenzhen view

Standard & Poor's said it revised its outlook on Shenzhen International Holdings to negative from stable.

At the same time, the agency said it affirmed its BBB long-term corporate credit rating on Shenzhen and its BBB- rating on the senior unsecured notes issued by the company.

Because of the outlook revision, the agency said it lowered its Greater China regional scale credit rating on the company to cnA- from cnA and that on the notes to cnBBB+ from cnA-.

S&P said it revised the outlook to negative to reflect the potential pressure on the financial risk profile of the company over the next year or two if economic conditions remain subdued.

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