S&P puts BOC Aviation on positive watch

Standard & Poor’s said it placed the BBB long-term corporate credit rating on BOC Aviation Pte Ltd. on CreditWatch with positive implications.

The agency also said it placed on positive watch the company’s axA Asean regional scale rating on the company, along with the BBB- rating on its senior unsecured notes.

The CreditWatch placement reflects a revision of BOC Aviation’s group status to its parent, Bank of China Ltd., S&P said.

S&P said it is assessing the likelihood that the Chinese government could extend indirect support to BOC Aviation through the Bank of China in the event of financial distress.

The agency also said it expects BOC Aviation’s name-sharing and reputational link with Bank of China to continue over the next two years at least.

© 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.