Fitch assigns Cofco HK notes A-

Fitch Ratings said it assigned final ratings of A- to the $500 million 3% senior unsecured notes due 2018 and the $500m 4 5/8% senior unsecured notes due 2023 issued by Prosperous Ray Ltd. The notes are unconditionally and irrevocably guaranteed by Cofco (Hong Kong) Ltd.

This follows the receipt of documents conforming to information already received. The final rating is in line with the expected rating assigned on Oct. 29.

Fitch said it notched Cofco HK's issuer default rating one level below its sole owner Cofco Corp.'s to reflect the very strong operational and strategic linkages between the two companies. The stable outlook reflects Fitch's expectation of the parent's continuous support for Cofco HK.

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