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QCPS's ratings are credit-linked to Fitch's assessment of the creditworthiness of Qingdao municipality in China.
The first QCP asked for the conversion instructions.
QCP No 2 was convinced that I had tried to do it myself and failed at the tricky bit.
Weak Standalone Profile: QCPS has large capital expenditure, negative free cash flow and high leverage, which are the characteristics of entities in the 'B' rating category.
Links with Municipality: A change in Fitch's credit view on Qingdao municipality will result in a similar change to QCPS. Stronger or more explicit financial support from the municipality may trigger potential positive rating action.
Any change in the IDRs of QCPS will result in a change to a similar extent in the ratings on its US dollar notes.
Fitch has also assigned QCPS's proposed senior unsecured US dollar notes an expected rating of 'BBB(EXP)'.
Limited, which is a directly, wholly owned subsidiary of QCPS. QCPS will provide an unconditional and irrevocable guarantee to the proposed notes.
Links to Qingdao Municipality: The rating on QCPS is credit-linked to the Fitch's assessment of the creditworthiness of Qingdao Municipality in China.
Values for the eight identical QCP samples are plotted at ST collection points as if they were samples from an ST mother, with dotted lines indicating 1 SD from mean QCP.
The low RSD and tight SD lines for the 8 QCP samples (Figures 2-3) and the low RSDs for the 16 and 21 duplicates indicate good precision in PBDE and PCB measurements, The point-to-point variations seen in depuration profiles at the different ST sampling points have biological origins, as the variations are much larger than those seen with the 8 QCP samples (Figure 2).
Slopes for PCB-153 were more heterogeneous than for PBDE-47, and far exceeded the small variations seen in the plot of 8 QCP samples.
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