Fitch to rate Aoyuan notes B+

Fitch Ratings said it assigned China Aoyuan Property Group Ltd.'s proposed dollar-denominated senior unsecured notes an expected rating of B+.

The notes are to be issued as a tap to the $125 million bonds due 2017 issued in November 2012, with the same terms and conditions.

Proceeds from the proposed issue will be used to finance its future payments of land premium and for general corporate purposes.

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