Fitch rates Power Best notes B+

Fitch Ratings said it assigned Power Best Global Investments Ltd.’s proposed dollar-denominated senior notes a B+ rating with an RR4 recovery rating. B+ rated Hong Kong JunFa Property Co. Ltd. will guarantee the notes.

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

Junfa intends to use the proceeds to refinance debt.

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