Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hysan Development Co. Ltd. > News item |
Fitch gives Hysan securities BBB
Fitch Ratings said it assigned a BBB rating with a 50% equity credit to Elect Global Investments Ltd.'s proposed dollar-denominated subordinated perpetual capital securities, which will be guaranteed by Hysan Development Co. Ltd. Fitch also affirmed Hysan’s long-term-foreign currency issuer default and senior unsecured rating at A-.
The perpetual securities are rated two notches below Hysan's A- issuer default rating in accordance with Fitch's corporate hybrids treatment and notching criteria. This two-notch difference reflects the securities' coupon deferral feature and their subordination to senior obligations. The securities rank senior only to Hysan's share capital.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.