S&P rates Beijing Environment notes BBB

S&P said it assigned its BBB long-term issue rating to the planned dollar-denominated senior unsecured notes that Beijing Environment Sanitation Engineering Group Co. Ltd. will guarantee. Beijing Environment (BVI) International Co. Ltd., a special purpose financing vehicle of BESG, will issue the notes,” S&P said in a press release.

“We equalize the issue rating on the notes with the issuer credit rating on BESG.

The company plans to use the proceeds to repay its offshore debt, according to its green finance framework.

The outlook is stable.

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