Fitch rates Zhongyuan Yuzi notes A

Fitch Ratings said it gave Zhongyuan Yuzi Investment Holding Group Co., Ltd.'s proposed U.S. dollar senior notes an A rating. The proposed notes are to be issued by Yuzi's wholly owned subsidiary, Zhongyuan Zhicheng Co., Ltd. and will be guaranteed by Yuzi.

The guaranteed bonds will constitute Yuzi's direct, unconditional, unsubordinated and unsecured obligations and will rank pari passu with other unsecured and unsubordinated obligations. The bonds are rated at the same level as Yuzi's issuer rating because the direct guarantee structure transfers the ultimate responsibility of payment to Yuzi, Fitch said.

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