Fitch gives State Grid notes an A+

Fitch Ratings said it gave State Grid International Development Ltd.'s upcoming dollar-denominated senior unsecured bonds an A+ rating. The notes will be issued by its wholly owned subsidiary, State Grid Europe Development (2014) PCL and will be by SGID.

“SGID is a wholly owned subsidiary of State Grid Corp. of China, and its rating is equalized with that of SGCC to reflect the ‘high’ legal incentive for SGCC to provide support, in accordance with Fitch's parent and subsidiary linkage rating criteria,” Fitch said in a press release.

The proceeds will be used for refinancing and general corporate purposes.

The outlook is stable.

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