Fitch rates Linyi City bonds BBB-

Fitch Ratings said it assigned a BBB- rating to Linyi City Development Group Co., Ltd.'s planned U.S. dollar senior unsecured bonds.

The bonds will be issued by its indirect wholly owned subsidiary, Linyi City Development International Co., Ltd., and will be guaranteed by the parent, which Fitch rates BBB-.

The proceeds will be used to finance project construction and supplement operational capital.

The outlook is stable.

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