TEXT-S&P rates Competition Team Technologies' MTN drawdown 'A-'

Fri Dec 7, 2012 4:10am EST

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(The following statement was released by the rating agency)

Dec 07 - Standard & Poor's Ratings Services today assigned its 'A-' long-term issue rating and 'cnAA' long-term Greater China regional scale rating to the proposed five-year US$650 million medium-term notes issued by Competition Team Technologies Ltd. (not rated), a fully owned subsidiary of Hon Hai Precision Industry Co. Ltd. (A-/Stable/--; cnAA/--). The notes are part of a US$2 billion medium-term notes program that Hon Hai unconditionally and irrevocably guarantees.

RELATED CRITERIA AND RESEARCH

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