S&P pulls GLP, GLP China from watch

S&P Global Ratings affirmed its BBB issuer credit rating on GLP Pte Ltd. and its core subsidiary, GLP China Holdings Ltd., and the BBB- issue rating on the senior unsecured notes issued by them, and removed the ratings from CreditWatch with negative implications. S&P placed them on negative watch on March 25.

“GLP’s revised financial policy eases financial risks, in our view. We believe GLP’s publicly articulated financial policies demonstrate a commitment to the rating and evidence credit metric targets that are consistent with our expectations and that GLP’s business will evolve to reduce its reliance on development gains,” S&P said in a press release.

The outlook is negative.

© 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.