Fitch rates China Industrial notes BBB

Fitch Ratings said it assigned an expected BBB rating to the planned senior unsecured notes to be issued by China Industrial Securities International Financial Group Ltd., a 55.82%-owned subsidiary of Industrial Securities (Hong Kong) Financial Holdings Ltd. as of end-September 2023. Industrial Securities (Hong Kong) is, in turn, a wholly owned subsidiary of Industrial Securities Co., Ltd.

The rating is in line with the BBB rating of Industrial Securities, which will guarantee the notes.

The proceeds will be used for refinancing.

The outlook is stable.

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