Fitch gives Zhengzhou Metro notes A-

Fitch Ratings said it published Zhengzhou Metro Group Co., Ltd.'s long-term foreign and local currency issuer default ratings of A-.

The outlook is stable.

Concurrently, Fitch assigned the company’s proposed dollar senior unsecured notes an expected rating of A-.

The notes will constitute the company’s direct, unconditional, unsubordinated and unsecured obligations and rank pari passu with its other present and future unsecured obligations.

The agency said the ratings reflect that Zhengzhou Metro is the sole entity in Zhengzhou, a city in China's Henan province, in charge of building, operating and maintaining rail transit systems.

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