Fitch rates Zhengzhou Urban notes BBB+

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

The notes will be issued directly by Zhengzhou and will constitute its direct, general, unsubordinated and unconditional obligations and will rank at least pari passu with all its unsecured and unsubordinated obligations. Proceeds will be used to fund the development and construction of its operational projects and refinance indebtedness.

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