Fitch rates Ganzhou Urban notes BBB-

Fitch Ratings said it assigned Ganzhou Urban Investment Holding Group Co., Ltd.'s planned U.S. dollar senior notes a BBB- rating.

“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 press release.

The proceeds will be used to replenish working capital and for construction projects.

The outlook is stable.

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