Fitch rates Zhengzhou Urban notes BBB+

Fitch Ratings said it assigned Zhengzhou Urban Construction Investment Group Co., Ltd.’s proposed dollar-denominated senior unsecured notes an expected rating of BBB+.

“The proposed notes are rated at the same level as ZUCI’s long-term issuer default rating because they will constitute its direct, general and unconditional obligations and will at all times rank at least pari passu with all its other present and future unsecured obligations,” said Fitch in a press release.

Proceeds will be used to fund the development and construction of operational projects and refinance indebtedness.

© 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.