Fitch: LS Finance notes BBB-

Fitch Ratings said it assigned LS Finance Ltd.'s $150 million notes a final BBB- rating. The notes are to be unconditionally and irrevocably guaranteed by Lifestyle International Holdings Limited.

According to Fitch, the notes share the same terms and conditions and are fully fungible with the $350 million notes due 2017 issued on Jan. 26.

The agency said the assignment of the final rating follows the receipt of documents conforming to information already received and is in line with the expected rating assigned on March 8.

Fitch said the ratings reflect Lifestyle's leading position among Hong Kong department stores, supported by strong brand names, as well as its strong and stable cash flow and EBITDA generation, particularly from Sogo Causeway Bay.

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