Fitch rates Jiangyin State bonds BBB

Fitch Ratings said it rated Jiangyin State-owned Assets Holding (Group) Co., Ltd.'s (JYSA) planned euro-denominated bond. The bonds, which will be issued by Chengda International Co., Ltd., will be guaranteed by JYSA.

“The proposed bonds are rated at the same level as JYSA's issuer default rating (IDR), because the direct guarantee structure transfers the ultimate responsibility of payment to JYSA,” Fitch said in a press release.

The outlook is stable.

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