Fitch rates Guangdong Communications bonds A+

Fitch Ratings said it assigned Guangdong Provincial Communications Group Co., Ltd.'s planned guaranteed senior unsecured bonds an A+ rating. The bonds will be issued by Xin Yue Co. Ltd., and will be guaranteed by Guangdong Communications.

Since the bonds are guaranteed by Guangdong Communications, they are rated at the same level as the guarantor, the agency explained.

Proceeds are intended for project construction, refinancing and working capital.

The outlook is stable.

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