S&P changes view for China Jinjiang Environment to positive

S&P said it changed the outlook for China Jinjiang Environment Holding Co. Ltd. to positive from negative.

The agency cited its view that the company could be eligible for a rating uplift after Zhejiang Energy Provincial Energy Group Co. Ltd. took over as largest shareholder from Hangzhou Jinjiang Group Co. Ltd.

Zhejiang Energy is state owned, and S&P said it believes it has better credit quality than Hangzhou.

S&P affirmed the company’s BB- rating and the B+ rating on its senior unsecured notes.

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