Fitch gives Bright Food notes BBB+

Fitch Ratings said it assigned Bright Food International Ltd.’s proposed euro-denominated senior notes a BBB+ rating. The proposed notes will be issued by fully owned subsidiary Bright Food Singapore Holdings Pte. Ltd. and guaranteed by BFI, which Fitch rates BBB+. The notes will also have a keepwell and liquidity support deed and a deed of equity interest purchase from the ultimate parent, Bright Food (Group) Co., Ltd.

“The proposed notes are rated at the same level as BFI’s senior unsecured rating as they will constitute BFI’s direct and senior unsecured obligations,” Fitch said in a press release.

The proceeds will be used to refinance BFI’s offshore debt.

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