Fitch rates Beijing Infrastructure notes A+

Fitch Ratings said it assigned a final rating of A+ to Beijing Infrastructure Investment Co. Ltd.’s €500 million 1% senior unsecured notes due 2018.

The notes will be issued under the company’s $2 billion medium-term note program, which is rated at A+.

The proceeds of the proposed issue will be used primarily for the development of the urban railway transit system in Beijing and for working capital and general corporate purposes, Fitch said.

The final rating on the euro-denominated notes follows the receipt of documents conforming to information already received, the agency said. It is in line with the expected rating assigned March 4, the agency said.

The notes under the program are issued by Eastern Creation II Investment Holdings Ltd., Fitch said, and are unconditionally and irrevocably guaranteed by Beijing Infrastructure Investment (Hong Kong) Ltd., a wholly owned subsidiary of Beijing Infrastructure.

The notes are senior unsecured obligations and rank pari passu with all other obligations of Beijing Infrastructure Investment (Hong Kong), Fitch said.

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