Fitch rates Metropolitan Light notes BB

Fitch Ratings said it assigned long-term foreign- and local-currency issuer default ratings of BB to Metropolitan Light Co. Ltd., a holding company for the merged assets of WTT Holding Corp. and HKBN Ltd.

The outlook is stable.

Fitch also assigned a BB rating to the $670 million 5½% senior notes due 2022 previously issued by WTT Investment Ltd.

“The notes are rated in line with MLCL's senior unsecured rating of BB as they represent MLCL's direct, unconditional, unsecured and unsubordinated obligations,” the agency said in a news release.

Fitch withdrew WTT Investment's long-term foreign- and local-currency issuer default ratings of B+.

The ratings were on rating watch positive.

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