S&P downgrade clouds China Resources Power’s deal
The rating agency has cut China Resources Power Holdings’ outlook to negative citing weakened profitability. This could be a blow to the firm’s fund-raising plan as it is currently on the road meeting investors for a potential US dollar bond.
Standard & Poor’s (S&P) revised the outlook on China Resources Power Holdings (CR Power) to negative today (April 19), in a move that could affect CR Power’s current plan to issue a US dollar bond.
S&P said that the outlook drop was due to its concerns over profitability.
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