Fitch affirms Baosteel Resources

Fitch Ratings said it affirmed Baosteel Resources International Co. Ltd.'s long-term foreign currency issuer default rating at A-.

The outlook is stable.

The agency also affirmed the A rating on the $500 million 3 7/8% senior unsecured notes due 2020 issued by the company’s wholly owned subsidiary, Baosteel Financing 2015 Pty Ltd.

“BRI's rating reflects its linkage with parent China Baowu Steel Group Corp. Ltd. (Baowu Steel; A/stable), one of the world's largest steel producers,” the agency said in a news release.

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