Tingyi's Purchase of 5% Stake in Subsidiary Has no Immediate Rating Impact
OREANDA-NEWS. Moody's Investors Service says that Tingyi (Cayman Islands) Holding Corp.'s purchase of a 5% stake in its subsidiary Tingyi-Asahi Beverages Holding Co. Ltd (TAB, unrated) from minority shareholder Asahi Group Holdings, Ltd. (unrated) has no immediate rating impact on its Baa1 issuer rating or on the negative outlook.
On 30 September, Tingyi announced that Tingyi and Ting Hsin (Cayman Islands) Holding Corp (unrated, shareholder of Tingyi) will each purchase an approximate 5% stake in TAB. The 5% stake is valued at approximately USD165 million.