Fitch rates Shaoxing Keqiao bond BBB

Fitch Ratings said it rated Shaoxing Keqiao District State-owned Assets Investment and Management Group Co. Ltd.'s planned senior unsecured bonds BBB. The bonds will be issued by Keqiao (HK) International Investment Co., Ltd., a subsidiary wholly and directly owned by Shaoxing Keqiao. Shaoxing Keqiao will guarantee the bonds, which will rank equally with all its other unsecured and unsubordinated obligations.

The agency assigned a BBB issuer rating to Shaoxing Keqiao in January.

Proceeds will be used for project construction and replenishing working capital.

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.