Fitch gives Sinochem securities BBB-

Fitch Ratings said it assigned Sinochem Global Capital Co., Ltd.'s $600 million perpetual capital securities a BBB- rating.

The securities will be guaranteed by Sinochem Hong Kong (Group) Co. Ltd. on a subordinated basis.

The final rating is in line with the expected rating assigned on April 22, and follows the receipt of documents conforming to information already received.

The securities are rated two notches below Sinochem Hong Kong's BBB+ issuer default rating in accordance with Fitch's criteria.

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