Fitch assigns Sinochem notes A

Fitch Ratings said it assigned Sinochem Hong Kong (Group) Co. Ltd.'s planned dollar-denominated senior unsecured notes an A rating. The notes will be issued by its wholly owned subsidiary, Sinochem Offshore Capital Co. Ltd., under its medium-term note and perpetual securities program, and will be guaranteed by Sinochem HK.

“The proposed senior unsecured notes are rated at the same level as Sinochem HK's senior unsecured debt as they represent direct, unconditional, unsecured and unsubordinated obligations of the company,” the agency said in a press release.

The proceeds will be used for refinancing.

The outlook is stable.

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