Financial Wire

S&P Rates MTR's Proposed Green Notes AA+

-- S&P Global Ratings has given an AA+ long-term issue rating to MTR's (HKG:0066) proposed senior unsecured green notes, according to a Monday release.

The Hong Kong-based metro operator will channel proceeds from the notes to fund or refinance eligible green investments under its sustainable finance framework.

The notes' rating is equivalent to MTR's long-term issuer credit rating, given the lack of subordination risk amid minimal secured debt or priority debt, S&P said.

MTR's outlook is stable, in line with that of Hong Kong, given S&P's view of an almost-certain potential of government support in case of need.

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