Fitch rates Coamci unit bonds A-

Fitch Ratings said it assigned ratings of A- to Joy Treasure Assets Holdings Inc.'s $400 million 3 7/8% bonds due 2024 and $300 million 4½% bonds due 2029, which will be irrevocably and unconditionally guaranteed by China Orient Asset Management (International) Holding Ltd. (Coamci; A-/stable).

The bonds are rated at the same level as Coamci's issuer default ratings as they represent unsubordinated and unsecured obligations of Coamci, and rank at least pari passu with all of its other present and future unsecured obligations, the agency said.

Any action on Coamci's issuer default rating would result in similar rating action on the rated bonds, Fitch said.

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