Fitch rates Sino-Ocean Land notes BBB-

Fitch Ratings said it has assigned Sino-Ocean Land Holdings Ltd. a long-term issuer default rating of BBB- with a stable outlook and a senior unsecured rating of BBB-.

Fitch said it has also assigned Sino-Ocean Land Treasure Finance I Ltd.'s proposed dollar senior unsecured guaranteed notes an expected rating of BBB-(exp). The issuer is a wholly owned subsidiary of Sino-Ocean Land.

In rating Sino-Ocean Land, Fitch said it has applied the bottom-up approach detailed in its parent and subsidiary rating linkage criteria. Sino-Ocean Land is rated two notches higher than its standalone rating of BB to reflect its importance to its major shareholder China Life Insurance Co. Ltd. (A+/stable).

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