Fitch assigns Weifang Urban bond BBB-

Fitch Ratings said it assigned Weifang Urban Construction and Development Investment Group Co., Ltd.'s planned senior unsecured bonds a BBB- rating.

“The proposed offshore bonds are rated at the same level as Wucdi's issuer default rating (IDR), as they will represent its unsubordinated and unsecured obligations and rank at least pari passu with all of its other present and future unsecured debt,” Fitch said in a press release.

The outlook is stable.

© 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.