Li firm retains A rating
Standard & Poor's has maintained Hutchison Whampoa's A rating after the company announced its large-scale restructuring plans on Monday.
Hutchison's long-term local currency rating remains an A plus while its long-term foreign currency remains an A.
The agency said the ratings reflected Hutchison's strong portfolio of businesses and its conservative financial profile.
The news comes after Li Ka-shing announced a $34.7 billion takeover bid for Hongkong Electric, in which Hutchison holds a 34.63 per cent stake.
The announcement included a reshuffle in the shareholding structure of four listed companies in the Li empire, which effectively would see Cheung Kong Infrastructure Holdings and Hongkong Electric fall under the control of the new-look Hutchison Whampoa.
Hutchison's offer for shares in Hongkong Electric at $26.50 per share is limited to an additional 40.37 per cent interest in Hongkong Electric.
Hutchison has yet to announce how it will finance the acquisition.
