S&P Global Ratings has given an A long-term issue rating to CK Hutchison International's proposed senior unsecured notes, according to a Tuesday release.

Conglomerate parent CK Hutchison Holdings (HKG:0001) will guarantee the notes, with proceeds to be used for refinancing and general corporate purposes.

The notes' rating is equivalent to the parent's issuer credit rating, reflecting its secured debt plus subsidiaries' unsecured debt that account for 31.6% of total debt as of June 30.

The ratio is significantly under the rating agency's notching-down threshold of 75% for a notably diversified company.

The company's strong operations and diversified segments should anchor its debt control efforts, while its controlled financial management should help it sustain its credit profile, S&P said.