‘A’ USD notes issued by Shougang Corporation
HONG KONG, 22 November 2016 – Dagong Global Credit Rating (Hong Kong) Co., Ltd. (“Dagong HK”), an international credit rating company, today assigns its “A” global scale issue rating to the proposed
USD-denominated senior unsecured notes issued by Shougang Corporation (“Shougang”). The notes will constitute direct, unconditional, unsubordinated and unsecured obligations of the issuer and shall at all times rank pari passu and without any preference among themselves. The rating will be subject to our review on Shougang’s final offering documents. This is the first USD bond issue rating assigned by Dagong HK.
“A” was assigned for the following four points: the successive decline of Priority ratio in total assets; the ability to reduce structural secondary risks; Assets audit litigation of creditor in the head office level; asset diversification of Shougang.
Dagong Global Credit Rating (Hong Kong) Co., Ltd. is dedicated to providing a wide range of credit rating services for issuers and investors, mainly covering corporate and financial institutions ratings, which could contribute to debt issuances in financial markets. Dagong HK also provides credit risk research and other services related to credit ratings.