Fitch rates Lenovo notes BBB-

Fitch Ratings said it assigned Lenovo Group Ltd. a senior unsecured rating of BBB- and the company’s proposed U.S. dollar senior unsecured notes a BBB- rating.

The notes are rated in line with Lenovo’s senior unsecured rating of BBB- as they will rank equally with its other senior unsecured debt, Fitch said.

The proceeds notes will be used to repurchase its outstanding perpetual securities and unsecured notes due 2022 and 2023 via a tender and for working capital purposes.

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