Fitch ups Sunac China debt to BB-

Fitch Ratings said it removed Sunac China Holdings Ltd.’s (BB-/negative) senior unsecured rating and the ratings on all its outstanding notes from rating watch positive, and upgraded those ratings to BB- from B+.

Fitch said the upgrade follows the company's issuance of $1.1 billion of senior notes, which met the minimum threshold of $200 million, and the use of the proceeds to refinance the company's prior-ranking debt, which will reduce the subordination of its senior notes.

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