May 11, 2020
19:01

Bond Critic

Dr. Peng Telecom & Media Group: On Ventilator

Warut Promboon

Credit, Sector, TMT, Investment Strategies
#CHEDRP, #Dr. Peng

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Executive summary: Summary Geography China Sector Telecommunications Credit rating Caa1/WR (Moody’s/S&P) Report date 11-May-2020 Dr. Peng Telecom & Media Group Company Limited (Dr. Peng) is a guarantor of Dr. Peng Hong Kong Holding Limited, an issuer of USD500m bonds maturing 1st June 2020 (CHEDRP 5.05% 6/20s). This report focuses on the liquidity situation, and the maturity extension request. The company’s credit outlook over the next 12 months remains negative, in our view, given its weakening liquidity and the asset sale which we believe will increase execution ri

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