Fitch rates Weifang Urban bonds BBB-

Fitch Ratings said it published Weifang Urban Construction and Development Investment Group Co., Ltd. long-term foreign- and local-currency issuer default ratings of BBB-.

The outlook is stable.

The agency also assigned the company’s proposed dollar-denominated senior unsecured bonds a BBB-(EXP) rating.

The proposed bonds will be the direct, unconditional, unsecured and unsubordinated obligations of the company and will at all times rank pari passu with all its other outstanding and future unsecured and unsubordinated obligations, Fitch said.

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