S&P rates Sichuan Languang Development notes B

S&P said it assigned its B long-term issue rating to a proposed issuance of U.S. dollar-denominated senior notes by Hejun Shunze Investment Co. Ltd., an indirectly owned subsidiary of Sichuan Languang Development Co. Ltd. (B+/stable/--).

Languang unconditionally and irrevocably guarantees the notes.

S&P said it believes the company will use the proceeds to refinance its debt.

“We do not expect the issuance to have a significant impact on Languang's credit profile,” S&P said in a news release.

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