Fitch rates Zhaojin Mining notes BB

Fitch Ratings said it assigned Zhaojin Mining Industry Co. Ltd.'s (BB/stable) proposed dollar senior unsecured notes an expected BB rating.

The notes are to be issued by Zhaojin Mining International Finance Ltd., a wholly owned subsidiary of Zhaojin Mining.

The notes are guaranteed by Zhaojin Mining and are rated at the same level as Zhaojin Mining's senior unsecured rating as they constitute its direct and senior unsecured obligations, the agency said.

Fitch said that Zhaojin Mining's ratings are derived from an assessment of the consolidated credit profile of Zhaojin Mining's immediate parent, Zhaojin Group Co. Ltd., which is wholly owned by the Zhaoyuan municipality.

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