S&P rates SF Holding, notes A-

S&P said it assigned its A- long-term issuer credit rating to SF Holding Co. Ltd.

The outlook is stable.

At the same time, the agency assigned its A- long-term issue rating to the notes that SF Holding Investment Ltd. proposes to issue.

SF will unconditionally and irrevocably guarantee the notes.

“The rating on SF reflects our expectation that the company will maintain its leading position in the mid- to high-end package express delivery market, strong brand reputation and recognition, good revenue and EBITDA growth, strong technological capabilities, and low debt leverage over the next 12-24 months,” S&P said in a news release.

“Partially offsetting these strengths are intense competition from existing players and possible changes in competitive dynamics, particularly if consolidation were to occur.”

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