Fitch affirms Wuxi, notes at BBB+

Fitch Ratings said it affirmed Wuxi Construction and Development Investment Co., Ltd.'s (WCDI) long-term foreign- and local-currency issuer default ratings at BBB+.

The outlook is stable.

The agency also affirmed the dollar-denominated senior unsecured notes issued by Xihui Haiwai I Investment Holdings Co., Ltd. at BBB+.

Wuxi’s ratings are assessed under Fitch's Government-Related Entities (GRE) Rating Criteria, and they reflect the entity's 100% state ownership, very strong government control, solid government support track record, and the moderate socio-political implications and very strong financial implications on the government if the company defaults, the agency said.

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