Fitch rates Inventive Global notes A

Fitch Ratings said it assigned an expected A rating to Inventive Global Investments Ltd.'s proposed guaranteed senior unsecured notes to be issued under the its $1.5 billion medium-term note program.

The company also has a long-term issuer default rating of A, short-term issuer default rating of F1 and viability rating of BB.

Inventive Global is an offshore special purpose vehicle wholly owned by ABC International Holdings Ltd., which is a wholly owned subsidiary of Agricultural Bank of China Ltd., the agency said.

Fitch said it views ABC International as a key subsidiary of the bank, serving as the platform for its investment banking operations and complementing the bank's commercial-banking business.

The notes may be issued in any currency or of any tenor, the agency said.

The proceeds will be used for general corporate purposes by ABC International or any of its subsidiaries or affiliates, Fitch said.

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