Fitch assigns Wuhan Trading notes BBB+

Fitch Ratings said it assigned Wuhan Trading Group Co., Ltd.’s proposed dollar-denominated senior unsecured notes a BBB+ rating.

“The proposed notes are rated at the same level as Wuhan Trading Group’s long-term foreign-currency issuer default rating (IDR) as they constitute its direct, unconditional, unsubordinated and unsecured obligations and will at all times rank pari passu with all other unsecured and unsubordinated obligations of Wuhan Trading Group,” Fitch said in a press release.

The proceeds will be used for refinancing offshore debt, working capital and general corporate purposes.

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