S&P Global Ratings today raised its long-term issuer credit ratings on CK Infrastructure Holdings Ltd. (CKI)(01038) and Power Assets Holdings Ltd. (PAH)(00006) to 'A' from 'A-'. The outlook is stable for both entities.
At the same time, the credit rating agency raised its long-term issue rating on outstanding senior unsecured notes guaranteed by CKI to 'A' from 'A-'.
S&P also raised CKI's guaranteed hybrid securities' long-term issue rating to 'BBB+' from 'BBB'. It upgraded CKI and PAH after raising the rating on the parent, CK Hutchison Holdings Ltd. (A/Stable/--)(00001), earlier today.
S&P equalized the final issuer credit rating on CKI with CK Hutchison because of CKI's core status in the group. The result is one notch rating uplift over CKI's 'a-' stand-alone credit profile (SACP).
It thinks CKI is the major flagship for CK Hutchison's utilities and infrastructure assets and integral to the group overall business strategy. The group's senior management shows strong committed support to CKI, and the group is highly unlikely to sell its stakes in the company.
etnet榮獲HKEX Awards 2023 「最佳表現證券數據供應商」大獎► 了解詳情
