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Prospect News home > News index > List of issuers R > Headlines for Redco Properties Group Ltd. > News item |
S&P assigns Redco notes B
S&P said it assigned a B rating to the dollar-denominated senior unsecured notes proposed by Redco Properties Group Ltd.
“We equalize the issue rating with the issuer credit rating on Redco because the proposed notes are not significantly subordinated to other debt in the company's capital structure. As of Dec. 31, 2019, Redco's capital structure consisted of about Chinese renminbi (RMB) 7.5 billion in secured debt, RMB 9.7 billion in unsecured debt and other borrowings issued at the holding company level. The company's priority debt ratio is below our notching down threshold of 50%,” S&P said in a press release.
The outlook is stable.
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