Fitch: Golden Eagle notes BBB-

Fitch Ratings said it assigned a final rating of BBB- to Golden Eagle Retail Group Ltd.'s $400 million notes due 2023.

The final rating follows the receipt of documents conforming to information already received and is in line with the expected rating assigned May 6, Fitch said.

The notes are rated at the same level as Golden Eagle's senior unsecured rating of BBB- as they represent direct, unconditional, unsecured and unsubordinated obligations of the company, the agency said.

The ratings reflect the company's strong market presence in Jiangsu as the leading department store operator in the province, Fitch said.

Its dominance in Jiangsu enables the company to post high growth and store productivity, the agency said.

The ratings also consider its self-owned property strategy and its low leverage, Fitch said.

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