S&P assigns Hongkong Electric notes A-

S&P said it assigned its A- long-term issue rating to a proposed issue of dollar-denominated senior unsecured notes by Hongkong Electric Finance Ltd., a wholly owned subsidiary of Hongkong Electric Co. Ltd., which is rated A- by S&P.

Hongkong Electric Co. will guarantee the notes.

“The issue rating is the same as our long-term issuer credit rating on HEC, reflecting the effect of credit substitution and guarantee,” S&P said in a press release.

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