Business & Finance
S&P gives China's new euro-denominated bond A+ grade
- China is set to sell what is expected to be a trio of 5-year, 10-year and 15-year euro-denominated bonds.
- S&P's credit score for the new bonds was 'unsolicited,' it added, meaning that Beijing did not pay the firm for the rating.
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LONDON: Credit rating firm S&P Global gave China's planned new euro-denominated bond an A+ credit score, it said on Tuesday.
China is set to sell what is expected to be a trio of 5-year, 10-year and 15-year euro-denominated bonds on Wednesday in what will be only the government's third euro offering in roughly 15 years.
S&P's credit score for the new bonds was 'unsolicited,' it added, meaning that Beijing did not pay the firm for the rating.
Having a rating makes it easier for some funds under their in-house compliance rules to invest in bonds.