Fitch rates Shangrao Investment notes BBB-

Fitch Ratings said it assigned Shangrao Investment Holding Group Co., Ltd.'s (SIHG, BBB-/stable) proposed U.S. dollar-denominated senior notes a rating of BBB-.

The proposed notes are to be issued by SIHG's wholly owned subsidiary, Shangrao Investment Holdings International Co. Ltd., and will be unconditionally and irrevocably guaranteed by SIHG.

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

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