Fitch rates Coami notes A-

Fitch Ratings said it assigned an expected rating of A- to China Orient Asset Management (International) Holding Ltd.'s (Coami) proposed senior unsecured dollar-denominated notes.

The proposed offshore dollar notes will be issued by Dongxing Voyage Co. Ltd., Fitch said.

The notes will be unconditionally and irrevocably guaranteed by both Coami and Dongxing’s immediate parent – Dongxing Securities (Hong Kong) Financial Holdings Ltd., Fitch said.

The notes will rank equally with all of the company’s other present and future unsecured and unsubordinated obligations, the agency said.

China Orient Asset Management Corp. is the ultimate parent of Coami, Dongxing Voyage and Dongxing Securities, Fitch noted.

The expected rating on the proposed notes is based on the unconditional and irrevocable guarantee provided by Coami, the agency said.

Both China Orient Asset and Coami are classified as a credit-linked public-sector entities rated one notch lower than China's sovereign ratings, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.