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Fitch rates Jiangxi Railway bonds A-
Fitch Ratings said it assigned an expected A- rating to Jiangxi Railway Investment Group Corp.'s proposed dollar-denominated senior unsecured bonds.
The bonds are rated at the same level as the company's issuer default rating as they will constitute direct, unconditional, unsubordinated and unsecured obligations and will rank pari passu with its other present and future unsecured and unsubordinated obligations, Fitch said.
The proceeds will be used for overseas strategic mergers and acquisitions, establishing an overseas investment and financing platform and general corporate purposes, the agency said.
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