S&P rates China Education bonds AA

S&P said it assigned its AA long-term issue rating to China Education Group Holdings Ltd.’s planned issue of Chinese yuan-denominated bonds.

“We equalize the rating on the bonds with the long-term foreign currency issuer credit rating on the guarantor, Credit Guarantee and Investment Facility (CGIF; foreign currency: AA/stable/A-1+), a trust fund of the Asian Development Bank. The issue rating is based on CGIF's unconditional, timely and irrevocable guarantee,” S&P said in a press release.

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