Standard & Poor's: New World Development (01030.HK) granted a "B-" long-term issuance rating for its proposed issuance of US dollar notes.

On September 23, Standard & Poor's granted New City Development Holdings Limited (Seazen Group Ltd., referred to as "New City Development" 01030.HK) and New City Holdings Group Co., Ltd. (Seazen Holdings Co., Ltd., referred to as "New City Holdings" 601155.SH) an unconditional and irrevocable guarantee for the proposed issuance of USD-denominated senior unsecured notes with a long-term issue rating of "B-". The notes will be issued by New City Development's special purpose financing vehicle, New Metro Global Ltd.