S&P gives Beijing Capital notes BBB

Standard & Poor's said that it had assigned its BBB long-term corporate credit rating to Beijing Capital Group Co. Ltd.

The outlook is stable.

The agency said it also assigned its cnA long-term Greater China regional-scale rating to the company.

At the same time, the agency said it assigned its BBB long-term issue rating and cnA Greater China regional scale rating to the dollar-denominated senior unsecured notes issued by Beijing Capital Polaris Investment Co. Ltd.

"The rating on Beijing Capital reflects the company's established market position in its water treatment and property development businesses, diversified business lines, good financial flexibility, and strong government support," S&P credit analyst Matthew Kong said.

"The company's high-growth strategy, aggressive investment appetite, execution risk in business expansion and highly leveraged financial position temper these strengths."

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