Fitch trims, pulls Yida

Fitch Ratings said it downgraded Yida China Holdings Ltd.'s long-term issuer default rating to RD from C on the completion of Yida's exchange offer. The agency then upgraded the IDR to CC.

Fitch affirmed the rating on Yida's untendered $52.854 million 6.95% senior unsecured bonds due April 19 at C then upgraded to CC from C with a recovery rating of RR4.

The agency concurrently withdrew all the ratings for commercial reasons and will no longer provide ratings or analytical coverage of this issuer, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.