Fitch rates Haiyan State bonds BBB-

Fitch Ratings said it rated Haiyan State-owned Assets Management Co., Ltd.’s planned U.S. dollar bonds a BBB- rating.

The bonds will be issued by HYSA's wholly owned subsidiary, HaiYan Coastline Co., Ltd., and will be guaranteed by HYSA.

“The proposed bonds are rated at the same level as HYSA's issuer default rating (IDR), because the direct guarantee structure transfers the ultimate responsibility of payment to HYSA,” Fitch said in a press release.

The outlook is stable.

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