Fitch: Franshion notes BBB-

Fitch Ratings said it assigned a BBB- rating to Franshion Properties (China) Ltd.'s $200 million 6.4% senior unsecured dollar-denominated notes due 2022.

Separately, Franshion announced financial results for the first half of 2013, which are generally in line with expectations and therefore have no impact on the ratings, Fitch said.

The ratings reflect the company's significant growth in development, the agency said.

Active property development has continued in the second half of 2013, which Fitch said it believes is likely to achieve its annual sales target.

The ratings also consider the company's stable recurring income, the agency said.

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