Fitch rates Kaisa notes B

Fitch Ratings said it gave Kaisa Group Holdings Ltd.'s planned dollar-denominated senior unsecured notes a B rating with an RR4 recovery rating.

“The proposed notes are rated at the same level as Kaisa's senior unsecured rating as they constitute the company's direct and senior unsecured obligations,” Fitch said in a press release.

The proceeds will be used to refinance the notes due in 2024 and other medium- to long-term offshore indebtedness that will become due within one year.

The outlook is stable.

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