S&P gives AVIC notes BBB-

Standard & Poor's said it assigned its BBB- long-term corporate credit rating to AVIC International Holding Corp.

The outlook is stable.

At the same time, the agency assigned its BBB- issue rating to a proposed issue of senior unsecured notes that the company guarantees. It also assigned its cnA- Greater China regional scale rating to the company and the proposed notes.

AVIC International Finance & Investment Ltd., a fully owned subsidiary of AVIC International, will issue the notes.

"The rating on AVIC International reflects the company's stand-alone credit profile of 'bb-' and a three-notch uplift because we consider the company to be a strategically important subsidiary of Aviation Industry Corp. of China," S&P credit analyst Frank Lu said in a news release.

"We assess the parent's credit profile to be much stronger than that of AVIC International."

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