Fitch gives Yango notes B

Fitch Ratings said it assigned Yango Group Co., Ltd’s proposed dollar-denominated senior notes an expected B rating with a recovery rating of RR5.

“The proposed notes are rated at the same level as Yango’s senior unsecured rating because they constitute its direct and senior unsecured obligations,” said Fitch in a press release.

The notes will be issued by its subsidiary, Yango Justice International Ltd., and guaranteed by Yango.

Proceeds will be used to refinance debt.

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