S&P Global Rating said the current market sentiment toward high-yield privately-owned enterprise (POE) issuers in both onshore and offshore markets is weak. Fosun's tender offer on 22 June to repurchase all offshore notes due this year (totaling about US$800 million) reflects its efforts to ease recent market skepticism. S&P Global Rating believes that Fosun can use secured debts, bank borrowings, etc. to settle the maturities. S&P Global Rating believes Fosun can well manage its maturities and expects Fosun's offshore and onshore bank facilities will increase this year, and the company's banking relationships are unlikely to be hit in the near future.