S&P rates BAIC Motor BBB+

S&P said it assigned its BBB+ long-term issuer credit rating to BAIC Motor Corp. Ltd. The outlook is stable.

BAIC is a subsidiary of Beijing Automotive Group Co. Ltd.

“The rating on BAIC reflects our view that the company is a core subsidiary of BAG (BBB+/stable/--) given BAIC's strategic and operational integration with BAG,” the agency said in a news release.

“We expect BAIC to receive timely and sufficient support from BAG, which is fully owned by Beijing government.”

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