S&P upgrades Alstom

Standard & Poor’s said it upgraded the China national scale rating on Alstom SA’s ¥500 million notes to cnA- from cnBBB+ following the publication of its revised national scale criteria and mapping guidelines.

The upgrade reflects the implementation of the new criteria and does not reflect any change in an assessment of the fundamental credit quality of Alstom, S&P said.

The global scale ratings on Alstom are not affected by the upgrade, the agency said.

In the new criteria, S&P said it explains that national scale credit ratings differ from global scale credit ratings.

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