S&P rates Johnson Electric BBB/cnA

Standard & Poor's said it assigned its BBB long-term corporate credit rating to Johnson Electric Holdings Ltd.

The outlook is stable.

The agency also assigned its cnA long-term Greater China regional scale rating to the company.

"The rating reflects Johnson Electric's solid market position, stable profitability, and minimal financial leverage. The company's high product concentration tempers these strengths," S&P credit analyst Tony Tang said in a news release.

The agency expects Johnson Electric to sustain its market share in the global auto and industrial component industries over the next 24 months. In recent years, Johnson Electric has moved one step up on the value chain by providing integrated motion solutions instead of simply selling electric motors.

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