Fitch affirms Yiwu State-Owned Capital

Fitch said it affirmed Yiwu State-Owned Capital Operation Co., Ltd.’s long-term foreign- and local-currency issuer default ratings at BBB with a stable outlook.

Fitch also affirmed the $500 million 4% senior unsecured bond issued by subsidiary, Chouzhou International Investment Ltd. (CIIL), at BBB. The bond is unconditionally and irrevocably guaranteed by YWSCOC.

Concurrently, Fitch affirmed the proposed U.S. dollar senior notes to be issued by CIIL at BBB (EXP). The notes will also be unconditionally and irrevocably guaranteed by YWSCOC.

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