S&P affirms Sino Guarantee

S&P said it affirmed the BB+ long-term issuer credit ratings on China United SME Guarantee Corp. (Sino Guarantee).

The outlook remains negative.

The agency also affirmed the BB+ long-term issue rating on the senior unsecured notes that BL Capital Holdings Ltd. issued and Sino Guarantee guarantees.

“We affirmed the rating because we believe Sino Guarantee's very strong competitive position and established access to external liquidity and capital will help mitigate the negative credit trend in the bond insurance sector, investment risks and more vulnerable capitalization,” S&P said in a news release.

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