S&P affirms Bright Food

Standard & Poor's said it affirmed its BBB- long-term corporate credit rating on Bright Food (Group) Co. Ltd. The outlook is stable.

At the same time, S&P affirmed its cnA- Greater China regional scale rating on the company.

"We affirmed the rating on Bright Food to reflect the 'moderately high' likelihood, in our view, that Shanghai's municipal government will provide sufficient and timely extraordinary support to the company in the event of financial distress," S&P said in a news release.

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