S&P Global Ratings has placed a BBB- long-term issue rating on Far East Horizon's (HKG:3360) proposed renminbi senior unsecured notes, according to a Thursday release.
The notes' rating is the same as the financial leasing provider's long-term issuer credit rating, serving as the latter's obligation and ranking equally with its other obligations.
The rating agency expects Far East Horizon to maintain its strong business base, satisfactory risk controls, modest capital levels, and ample funding and liquidity positions.
Even with profitability pressures, the company should fare better than its peers in weathering these constraints in the next two years, S&P said.
The rating agency said the company's industrial operations provide revenue diversification, with related risks still manageable in the next year or so.
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