Fitch: CK Hutchison notes A-

Fitch Ratings said it assigned an expected rating of A- to CK Hutchison Finance (16) Ltd.’s proposed euro-denominated guaranteed notes.

The proposed notes will be unconditionally and irrevocably guaranteed by CK Hutchison Holdings Ltd. and rank pari passu with the company’s other senior unsecured borrowings.

The notes are issued mainly for refinancing purposes, the agency said.

The ratings reflect the company’s diversified business and stable cash flow and geographical diversification, Fitch said.

The ratings also consider the capital intensive nature of the company’s infrastructure, ports and telecommunications businesses, the agency said.

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