Fitch rates Ganzhou Urban Investment notes BBB-

Fitch Ratings said it assigned Ganzhou Urban Investment Holding Group Co., Ltd.'s (GUIH, BBB-/stable) proposed U.S. dollar senior notes a rating of BBB-. The proposed notes will be directly issued by GUIH.

Proceeds will be used to finance onshore projects and for general corporate purposes.

The proposed bonds are rated at the same level as GUIH's issuer default rating because the direct issuance structure implies that the ultimate responsibility of payment lies with GUIH, Fitch said in a news release.

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