Fitch affirms, withdraws Fenghui Leasing

Fitch Ratings said it affirmed Fenghui Leasing Co., Ltd.'s long- and short-term issuer default ratings at B.

The outlook is stable.

The agency also affirmed the B senior unsecured rating and recovery rating of RR4 on the notes issued by Silver Sparkle Ltd.

Simultaneously, Fitch withdrew the ratings.

“The affirmation reflects Fenghui's still moderate leverage, which helps counterbalance its weakened asset quality and funding profile,” the agency said in a news release.

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