S&P assigns B to GOME notes

S&P said it assigned a B rating to the proposed dollar-denominated senior unsecured notes by GOME Retail Holdings Ltd.

“We rate the proposed notes one notch below the issuer credit rating on GOME because the debt is significantly subordinated to other debt in the company’s capital structure,” said S&P in a press release.

Proceeds will be used to refinance debt.

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