Fitch rates Huaneng’s bond A

Fitch Ratings said it assigned a rating of A to China Huaneng Group (Hong Kong) Treasury Management Holding Ltd.’s proposed dollar-denominated notes. The company is wholly owned by China Huaneng Group Co., Ltd., which is A rated and will guarantee the notes.

Fitch rates Huaneng a notch below China’s sovereign rating because the agency sees the high likelihood of government support if needed.

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