Fitch assigns Jiangsu Shagang notes BBB-

Fitch Ratings said it assigned Jiangsu Shagang Group Co., Ltd.'s planned dollar-denominated notes a BBB- rating.

The notes will be issued by Shagang's wholly owned subsidiary, Wealthy Vision Holdings Ltd. and guaranteed by the parent, rated BBB-. “They are rated at the same level as Shagang's senior unsecured rating, as they represent its direct, unconditional, unsecured and unsubordinated obligations,” Fitch said in a press release.

The outlook is stable.

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