Fitch rates Country Garden notes BB+

Fitch Ratings said it assigned Country Garden Holdings Co. Ltd. a long-term foreign currency issuer default rating of BB+ with a stable outlook and senior unsecured rating of BB+.

The agency also assigned the company's proposed dollar-denominated senior notes a BB+(EXP) expected rating.

Fitch said the Chinese homebuilder's ratings are supported by its strong execution track record and its ability to expand while maintaining a consistent financial policy.

The notes are rated at the same level as Country Garden's senior unsecured rating because they constitute direct and senior unsecured obligations of the company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.