男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Yunnan finance vehicles on credit watch

Updated: 2011-07-29 10:57

By Jason Subler (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

SHANGHAI - A top Chinese credit ratings agency has put two local government financing vehicles in the southwestern province of Yunnan on credit watch, the first such move since concerns mounted over potential defaults on local government debt.

China Chengxin International, which is 49 percent owned by Moody's, said it was taking the step because certain assets of the related entities - Yunnan Investment Holdings Group (YIHG) and Yunnan Electric Power Investment (YEPI) - were expected to be transferred or restructured.

Putting companies' ratings on watch is very rare in China's fledgling bond market. The step by Chengxin, one of the country's four main ratings agencies, could be the first of many and raises concerns over whether the bond market, as well as banks, will see a wave of defaults by the entities local governments have set up to raise cash to fund infrastructure projects.

Bonds issued by such local government financing vehicles have already fallen in recent weeks over concerns about their ability to repay their debt.

"The move is not surprising as risks in such debt have already been anticipated by the market and fully priced in," said Wu Zezhi, a trader at Orient Securities Co.

"It's possible that more such debt will be put on credit watch, and if you look at the market, many have already slumped as there are no investors buying."

Chengxin did not give details on the expected asset transfers, but IFR, a Thomson Reuters publication, reported earlier this month that YIHG, the biggest fundraising platform for the Yunnan government, was being asked to transfer its core assets to a separate government-linked entity.

The core assets of that company include a stake of more than 54 percent in YEPI as well as other electric power-related assets, IFR reported, adding that they would be transferred to Yunnan Energy Investment Group, a new government-linked entity.

"We will continuously watch the asset transfers related to Yunnan Investment Holdings, the plan and progress of restructuring of Yunnan's provincial electricity assets, as well as measures to guarantee creditors' interests," Chengxin said in its statement.

As a result of putting YIHG on credit watch, Chengxin also put two specific bonds on watch - one issued by YIHG itself and another issued by Yunnan Railway Investment Company. Those bonds currently have AA+ ratings, Chengxin's second-highest investment-grade rating.

Reuters

主站蜘蛛池模板: 措美县| 绥江县| 万盛区| 滦南县| 天全县| 威海市| 阿荣旗| 德格县| 犍为县| 义乌市| 甘洛县| 新源县| 克什克腾旗| 叙永县| 玉溪市| 保康县| 阿拉善盟| 呼玛县| 天峻县| 左贡县| 崇明县| 手游| 克什克腾旗| 扎赉特旗| 石屏县| 安新县| 东源县| 阿合奇县| 宝坻区| 车险| 浦县| 凤庆县| 高要市| 土默特左旗| 神农架林区| 马龙县| 咸阳市| 巴塘县| 尖扎县| 和田县| 平顶山市| 宜兴市| 甘德县| 古交市| 沁阳市| 日照市| 新干县| 灵山县| 台南市| 峡江县| 鸡西市| 桦甸市| 延安市| 六安市| 宜良县| 清水河县| 万州区| 柞水县| 永兴县| 离岛区| 乌什县| 孙吴县| 尉犁县| 怀仁县| 澜沧| 文水县| 天水市| 荔浦县| 光泽县| 乌鲁木齐县| 如东县| 定结县| 泗水县| 洪雅县| 佛坪县| 千阳县| 柳河县| 桂林市| 民乐县| 安西县| 霸州市| 宜川县|