July 23 - Standard & Poor's Ratings Services said today that it corrected an internal
administrative error by withdrawing its 'BB' foreign currency long-term issue rating on the
US$195 million guaranteed senior notes issued by Mandra Forestry Finance Ltd. At the
same time, Standard & Poor's withdrew its 'cnBBB-' Greater China credit scale
rating on the notes.
The notes were guaranteed by Sino-Forest Corp. Standard & Poor's withdrew the
rating on Sino-Forest on Aug. 29, 2011, and the issue rating on Mandra
Forestry Finance's notes should have been withdrawn at the same time.
RELATED CRITERIA AND RESEARCH
-- Sino-Forest Corp. Rating Lowered To 'CCC-' With Negative Outlook;
Rating Then Withdrawn On Heightened Information Risks, Aug. 29, 2011
-- 2008 Corporate Criteria: Analytical Methodology, April 15, 2008