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Section: Rating - Fitch Ratings said today (January 18, 2011) that Hutchison Whampoa Limited's (Hutchison, 'A-'/Stable/'F2') planned spin-off of its ports business in China's Pearl River Delta will likely lower its financial leverage but will not immediately affect its ratings.
Hutchison announced today that it plans to list its holdings of ports assets in Hong Kong and Guangdong province via a business trust on the Singapore Exchange. Hutchison plans to retain an approximate 25% stake in the trust post listing.
"Although the company has not provided details on the value of the transaction, Fitch believes that it will generate significant one-time cash inflow for …