Fitch rates Jiangbei notes BBB+

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

Jiangbei Investment will provide a keepwell and liquidity support deed and deed of equity interest purchasing undertaking to back the notes.

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

The outlook is stable.

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