Fitch gives Yuexiu Transport program, notes BBB-

Fitch Ratings said it published Yuexiu Transport Infrastructure Ltd.’s long-term issuer default rating of BBB-.

The outlook is stable.

The agency also assigned Famous Kind International Ltd.’s $1 billion medium-term note program a rating of BBB- and the proposed euro senior unsecured notes issued under the program an expected rating of BBB-(EXP).

Famous Kind is wholly owned by Yuexiu Transport.

Notes issued under the program may be in any currency or of any tenor, and will be senior unsecured obligations of Famous Kind and Yuexiu Transport, which is providing a guarantee to the debt issued from the program

Proceeds will be used primarily to optimize the current debt structure and general corporate purposes.

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