Fitch affirms Anhui Transportation

Fitch Ratings said it affirmed Anhui Transportation Holding Group Co. Ltd.'s long-term foreign and local currency issuer default ratings at BBB+. The outlook is stable.

Fitch also affirmed the BBB+ rating of the $350 million 4 7/8% guaranteed notes due 2021. The notes were issued by Anhui Transportation Holding Group (HK) Ltd., which is a fully owned subsidiary of the company.

The agency said it expects Anhui Transportation's debt to stay at current levels in the forecast period of 2019 to 2021 based on an annual capex plan averaging RMB 20 billion per year.

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