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S&P and Moody’s assign A+ and A1 Long-term Issuer Rating to SIPG; Outlook Stable

The release date:2020-05-29 10:06 viewed: The shop name:AAA

Standard and Poor’s (S&P) and Moody’s Investors Service (Moody’s), two most authoritative credit rating agencies in the world, have recently assigned A+ and A1 long-term issuer rating respectively to SIPG with outlook being stable.

On May 26, S&P assigned A+ rating to both SIPG (600018.SH) as a long-term issuer and the bonds guaranteed by SIPG. SIPG (HK), an offshore financing subsidiary of SIPG, obtained A rating as a long-term issuer from S&P, which also gave the same rating to the exchangeable bond backed by the Company.  

On May 29, Moody’s assigned A1 issuer rating and A2 baseline credit assessment (BCA) to SIPG (600018.SH). Moody’s also confirmed its A1 backed senior unsecured rating and A2 backed senior unsecured rating to Shanghai Port Group (BVI) Development Co., Ltd. and Shanghai Port Group (BVI) Holdings Ltd. respectively. All rating outlooks are stable.  

S&P recognizes SIPG’s ability to withstand the shock of COVID-19. Its business advantages, diversified development and enhanced operation efficiency will help it to defy the unprecedented pressure caused by the pandemic and to maintain its market position and high operation efficiency within the next two years. Moody’s assessment reflects SIPG’s dominant role in China’s port sector and links to the public policy goals of Shanghai. The credit indicators all support its resilience to the negative impact of the pandemic.  

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