Fitch rates China Aoyuan notes BB

Fitch Ratings said it assigned China Aoyuan Group Ltd.’s planned dollar-denominated senior notes a BB rating.

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

Aoyuan intends to use the proceeds to refinance its debt.

The outlook is stable.

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