Fitch gives Yichang High-Tech notes BB+

Fitch Ratings said it assigned Yichang High-Tech Investment Development Co., Ltd.'s planned dollar-denominated senior notes a BB+ rating.

“The proposed bonds are rated at the same level as YHID's issuer default rating because the direct issuance structure implies that the ultimate responsibility of payment lies with YHID,” Fitch said in a press release.

The proceeds will be used for refinancing.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.