Fitch rates Swire Pacific notes A

Fitch Ratings said it assigned a rating of A to Swire Pacific MTN Financing Ltd.'s $400 million medium-term notes issue maturing April 2018. This issue is drawn under the $2.5 billion medium-term note program dated September 2007. The notes are unconditionally and irrevocably guaranteed by Swire Pacific Ltd. Proceeds will be used for general corporate purposes.

The rating reflects Fitch's view that issues under the program rank pari passu with Swire's long-term foreign-currency issuer default rating of A with stable outlook.

Swire Pacific MTN Financing is a directly owned subsidiary of Swire, acting as one of the financing vehicles for the company's activities.

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