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S&P rates Times China notes B+
S&P said it assigned its B+ long-term issue rating to a planned issuance of dollar-denominated senior unsecured notes by Times China Holdings Ltd. S&P rates Times China BB-.
“We rate the notes one notch below the issuer credit rating on Times China to reflect structural subordination risk,” S&P said in a press release.
The company intends to use the proceeds to refinance debt.
The outlook is stable.
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