Fitch rates Hutchison Whampoa notes A-

Fitch Ratings said it assigned Hutchison Whampoa International (12) (II) Ltd.'s proposed U.S. dollar notes an expected A- senior unsecured rating. The securities will be guaranteed by Hutchison Whampoa Ltd.

The agency said the notes are rated at the same level as Hutchison's rating as the guarantee makes them direct, unconditional, unsecured and unsubordinated obligations of the company.

Hutchison's A- rating reflects the company's geographical and industry diversification, strong liquidity, well-spread debt maturity profile and access to diverse sources of capital, the agency said.

Hutchison continues to derive stable cash flow generation from its core businesses such as ports and properties, and to improve the performance of its retail division.

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