Fitch gives China Resources Land notes BBB+

Fitch Ratings said it has assigned China Resources Land Ltd.'s (BBB+/stable) $1 billion of 4.625% notes due 2016 a BBB+ rating.

The agency said that the notes are rated at the same level as China Resources Land's senior unsecured rating because they constitute direct and senior unsecured obligations of the company.

Fitch noted that the ratings are supported by its business model of maximizing operating cash flow from its development properties to support the expansion of its investment property portfolio.

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