Fitch rates Jiangyin State-owned Assets bonds BBB

Fitch Ratings said it assigned Jiangyin State-owned Assets Holding (Group) Co., Ltd.'s (JYSA, BBB/stable) proposed yuan bonds a rating of BBB.

The proposed bonds are to be issued by the company’s wholly owned subsidiary, Chengda International Co., Ltd., and will be unconditionally and irrevocably guaranteed by JYSA.

Fitch said the proposed bonds are rated at the same level as JYSA's issuer default rating, because the direct guarantee structure transfers the ultimate responsibility of payment to JYSA.

© 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.