Fitch rates Zhenro Properties notes B+

Fitch Ratings said it assigned Zhenro Properties Group Ltd.’s proposed dollar-denominated senior notes a B+ rating, with a recovery rating of RR4.

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

Zhenro intends to use the proceeds mostly to refinance its debt.

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