Fitch gives Zhaojin Mining, notes BB

Fitch Ratings said it published Zhaojin Mining Industry Co. Ltd.'s long-term issuer default rating and senior unsecured rating of BB. The outlook is stable.

The agency also assigned a BB expected rating to the proposed dollar senior notes to be issued by Zhaojin Mining International Finance Ltd.

The notes are guaranteed by Zhaojin Mining and are rated at the same level as Zhaojin Mining's senior unsecured rating as they constitute its direct and senior unsecured obligations, Fitch said.

The agency said that Zhaojin Mining's rating is equalized with the credit profile of Zhaojin Group, based on strong linkage between the two entities under Fitch's parent and subsidiary rating linkage criteria.

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