S&P rates Capco AA-

S&P said it assigned an AA- long-term corporate rating to Castle Peak Power Co. Ltd. (Capco), along with an A-1+ short-term corporate rating.

The outlook is stable.

S&P also said it assigned cnAAA long-term and cnA-1+ short-term Greater China regional scale ratings.

The agency also said it assigned an AA- long-term issue rating and long-term cnAAA Greater China regional scale rating to the proposed medium-term notes program issued by Castle Peak Power Finance Co. Ltd. and guaranteed by Capco.

The ratings reflect a view that the company operates in an open and transparent regulatory landscape and maintains a solid financial position, S&P said.

The company's power supply is critical to power-supply security in Hong Kong, the agency said.

Capco also has a strong track record of meeting performance and operating targets set by the government, S&P said.

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