S&P upgrades eHi Car debt

S&P said it reviewed the senior unsecured issue-level ratings for eHi Car Services Ltd. that were labeled as under criteria observation (UCO) after publishing its revised issue ratings criteria.

With the criteria review complete, the agency said it removing the UCO designation from these ratings and raising the issue rating on eHi Car's $200 million and $400 million senior unsecured debt to BB from BB-.

The actions stem solely from the application of the revised issue rating criteria and do not reflect any change in the assessment of the corporate credit ratings for issuers of the affected debt issues, S&P explained.

The action takes into consideration eHi Car's capital structure over the next one to two years.

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