Fitch rates Golden Wheel Tiandi notes B

Fitch Ratings said it assigned a final rating of B to Golden Wheel Tiandi Holdings Co. Ltd.’s $100 million 9½% senior notes due 2017 with a recovery rating of RR4.

The notes represent direct, unconditional, unsecured and unsubordinated obligations of the company.

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

The company remains focused on developing small commercial and residential projects linked to metro stations, the agency said.

These kinds of projects usually fetch higher average selling prices because of their more convenient locations and the better foot traffic for the commercial-property components, Fitch said.

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