Fitch Rates Hongqiao notes BB-

Fitch Ratings said it assigned Hongqiao Group Ltd.’s proposed dollar-denominated senior unsecured notes an expected BB- rating.

The notes are rated at the same level as Hongqiao’s senior unsecured debt as they represent unsecured and unsubordinated obligations of the company, Fitch said.

Proceeds will be used for refinancing debt and for general corporate purposes.

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