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Prospect News home > News index > List of issuers S > Headlines for Sinopec Group Overseas Development (2018) Ltd. > News item |
S&P rates Sinopec notes A+
S&P said it assigned its A+ long-term rating to a proposed issue of U.S.-dollar-denominated notes, which will be guaranteed by China Petrochemical Corp. (Sinopec). Sinopec Group Overseas Development (2018) Ltd., a special purpose entity, will sell the notes.
Sinopec intends to use the proceeds to refinance debt and for general corporate purposes.
“We equalize the rating on the notes with the long-term issuer credit rating on Sinopec,” said S&P in a press release.
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