S&P raises Syngenta

S&P said it raised Syngenta AG’s issuer rating to BBB from BBB-. Syngenta is now a subsidiary of Sinochem Holdings Corp. Ltd. following a restructuring.

“We assess Sinochem Holdings' GCP at a-, which reflects our view of a very high likelihood of it receiving government support in case of financial stress. The group is fully owned by the Chinese state-owned Assets Supervision and Administration Commission (Sasac) and has a very strong link to the government,” S&P said in a press release.

The outlook is stable.

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