Taiwan-Based Hon Hai#s Guaranteed MTN Drawdown Rated #A-#

Stocks and Financial Services Press Releases Wednesday September 13, 2017 17:19
HONG KONG--13 Sep--S&P Global Ratings

HONG KONG (S&P Global Ratings) Sept. 13, 2017--S&P Global Ratings today assigned its 'A-' long-term issue rating to the medium-term unsecured notes proposed by Foxconn (Far East) Ltd. (not rated), a fully owned subsidiary of Hon Hai Precision Industry Co. Ltd. (A-/Stable/--). The notes are a drawdown under the US$5 billion medium-term notes program that Hon Hai unconditionally and irrevocably guarantees. The proceeds will be mainly used to refinance the company's existing debt.


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