Fitch rates Jiangbei notes BBB

Fitch Ratings said it gave Nanjing Jiangbei New Area Industrial Investment Group's planned dollar-denominated senior unsecured notes a rating of BBB. The proposed notes will be issued by Industrial Investment Overseas Ltd., a wholly owned subsidiary of Jiangbei Investment.

“The rating on the proposed senior unsecured bonds is linked to Fitch's internal credit assessment of IIOL, based on our parent and subsidiary linkage rating criteria. The assessment factors in the strong linkage between Jiangbei Investment and IIOL, which is underpinned by the subsidiary's importance as the core platform for Jiangbei Investment's offshore financing,” Fitch said in a press release.

The proceeds will be used for refinancing and general corporate purposes.

The outlook is stable.

© 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.