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Prospect News home > News index > List of issuers E > Headlines for eHi Car Services Ltd. > News item |
Fitch upgrades eHi
Fitch Ratings said it upgraded eHi Car Services Ltd.'s long-term issuer default rating to B+ from B. The agency also raised the senior unsecured rating to B+ from B with an RR4 recovery rating. All ratings have been removed from Rating Watch Positive (RWP), on which they were placed on May 5, 2021.
“The upgrade is driven by the completion of the issuance of a $300 million 7% bond. The issuance demonstrates progress by eHi towards refinancing its senior notes due in 2022 and the subsequent improvement in its debt maturity profile,” Fitch said in a press release.
The outlook is stable.
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