Fitch assigns Shandong Guohui bond BBB+

Fitch Ratings said it assigned Shandong Guohui Investment Co., Ltd.'s planned senior unsecured notes a BBB+ rating. Wholly owned subsidiary, Guohui International (BVI) Co., Ltd., will sell the notes that will be guaranteed by Shandong Guohui.

“The proposed notes are rated at the same level as Shandong Guohui's issuer default rating (IDR) because the direct guarantee structure transfers the ultimate responsibility of payment to Shandong Guohui,” Fitch said in a press release.

The proceeds will be used for refinancing the company's offshore indebtedness.

The outlook is stable.

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