Fitch rates Guangzhou Finance bond A-

Fitch Ratings said it assigned Guangzhou Finance Holdings Group Co. Ltd.'s planned guaranteed bonds a rating of A-. Wholly owned subsidiary, Guang Ying Investment Ltd. will issue the bonds that will be guaranteed by Guangzhou Finance.

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

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