S&P rates Beijing State-Owned Assets notes A-

Standard & Poor’s said it assigned an A- long-term corporate credit rating to Beijing State-Owned Assets Management (Hong Kong) Co. Ltd.

The outlook is stable.

The agency also said it assigned a cnAA long-term Greater China regional scale rating to the company, along with an A- rating and cnAA long-term Greater China regional scale rating to its proposed senior unsecured notes.

The ratings reflect a view that the company is a highly strategic subsidiary of its parent, Beijing State-Owned Assets Management Co. Ltd., S&P said.

Beijing State-Owned Assets will maintain its subsidiary as the sole and wholly-owned offshore investment platform over the next 24 months, the agency said.

The Hong Kong subsidiary is highly strategic based on the parent company’s commitment maintain its 100% ownership, S&P said.

Beijing State-Owned Assets Hong Kong is fully integrated with the parent and relies on the rest of group for its administrative and operational activities, the agency said.

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