Fitch gives Hangzhou notes BBB-

Fitch Ratings said it gave Hangzhou Shangcheng District Urban Construction & Comprehensive Development Co., Ltd.'s planned U.S. dollar senior notes a BBB- rating.

The notes will be issued by HSUC's wholly owned subsidiary, Zhejiang Baron (BVI) Co. Ltd., and will be guaranteed by HSUC, which Fitch rates BBB-.

The proceeds will be used for refinancing debt and for the company's eligible green projects.

The outlook is stable.

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