S&P affirms Shanghai International Port

S&P said it affirmed its A+ long-term issuer credit rating on Shanghai International Port (Group) Co. Ltd.

The outlook is stable.

The agency also affirmed the A long-term issuer credit rating on Shanghai International Port Group (HK) Co. Ltd. and affirmed the A issue rating on the exchangeable bonds that it guarantees.

“We affirmed the ratings because we expect SIPG's finances can withstand the impact from the U.S.-trade conflagration and other pressures,” S&P said in a news release.

“This is because the company's exposure to U.S. goods is contained, and we expect cuts in container loading rates will be offset by strong cash flows from property sales over the next two years.”

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