Fitch rates Sichuan Development notes A-

Fitch Ratings said it assigned Sichuan Development Holding Co., Ltd.'s (A-/stable) proposed dollar-denominated senior unsecured notes an expected rating of A-(EXP).

The proposed notes will be issued by Sichuan Development’s subsidiary, Yieldking Investment Ltd., under their combined $2 billion medium-term note program, which has an expected rating of A-(EXP).

Proceeds will be used for general corporate purposes.

The proposed notes will be unconditionally and irrevocably guaranteed by Sichuan Development International Holding Co. Ltd., a wholly owned subsidiary of Sichuan Development. The notes will be Sichuan Development International’s senior unsecured obligations and rank pari passu with all its other obligations.

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