S&P ups Jardine Strategic

S&P said it upgraded Jardine Strategic Holdings Ltd. to A+ from A.

“We raised the rating because we expect Jardine to uphold its conservative financial policy and limit investment spending over the next two years,” said S&P in a press release.

“The group does not have a high appetite for debt-funded investment, in our opinion,” the agency said.

The outlook is stable. S&P said it expects Jardine to keep debt-to-EBITDA ratio below 2.0x for the next 24 months.

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