Fitch rates Sinochem Offshore notes A-

Fitch Ratings said it assigned Sinochem Offshore Capital Co. Ltd.'s $3 billion medium-term note program a rating of A-.

The agency also assigned Sinochem Offshore's proposed senior unsecured dollar-denominated notes issued under the program an expected A-(EXP) rating.

Sinochem Offshore is a wholly owned subsidiary of Sinochem Hong Kong (Group) Co. Ltd. (A-/stable), which is providing an unconditional and irrevocable guarantee for the medium-term note program. The program is rated at the same level as Sinochem HK's senior unsecured rating to reflect this guarantee.

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