S&P: Swire Pacific notes A-

Standard & Poor's said it assigned its A- long-term issue rating and cnAA long-term Greater China credit scale rating to the proposed issue of 10-year $300 million in fixed-rate senior unsecured notes by Swire Pacific MTN Financing Ltd.

According to S&P, the notes would be a drawdown under the $3.5 billion medium-term notes program that Swire Pacific Ltd. guarantees.

S&P said the rating on Swire Pacific reflects the company's strong and stable rental income from seasoned investment properties in Hong Kong, diverse businesses with a good profit record, good liability management, and strong financial flexibility.

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