Fitch rates Road King notes BB-

Fitch Ratings said it affirmed Road King Infrastructure Ltd.'s long-term foreign-currency issuer default rating at BB-, upgraded its foreign-currency senior unsecured rating to BB- from B+ and assigned an expected BB- rating to its $350 million 9½% senior notes due 2015.

The outlook remains stable.

The proceeds of the new bonds will be used finance a tender offer for the company's existing 2011 and 2012 bonds.

The affirmation reflects the company's extended maturity profile following the issuance of the 2015 bonds in conjunction with the tender offer for the existing bonds, Fitch said.

The upgrade of the senior unsecured rating reflects reduced structural subordination risk for offshore bondholders from 2010 onward, the agency said.

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