Fitch rates Sinochem notes A-

Fitch Ratings said it assigned a final rating of A- to Sinochem Offshore Capital Co. Ltd.’s CHF 250 million 0.76% senior unsecured Swiss franc notes due 2022 issued under Sinochem Hong Kong (Group) Co. Ltd.’s medium-term note program.

Sinochem Offshore is a wholly owned subsidiary of Sinochem Hong Kong, which provides an unconditional and irrevocable guarantee for the program, Fitch said.

The program is rated at the same level as Sinochem Hong Kong’s senior unsecured rating to reflect this guarantee, the agency said.

The Sinochem group has strong links to the Chinese state due to the importance of its agrochemical operations, especially in seeds, Fitch said.

The group also exhibits strong state linkages in its rubber and other chemical operations, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.