Fitch rates Fantasia notes B+

Fitch Ratings said it assigned Fantasia Holdings Group Co., Ltd.’s (B+/stable) proposed U.S. dollar senior notes a B+ rating with a Recovery Rating of RR4.

The company plans to use the net proceeds from the proposed issue for refinancing purposes.

“Fantasia's ratings are supported by the company's moderate leverage, quality land bank and healthy margin, though these are somewhat offset by a low churn rate. The ratings are constrained by Fantasia's smaller scale than that of higher-rated peers,” Fitch said in a news release.

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