Fitch rates Hydoo notes B

Fitch Ratings said it assigned a long-term foreign-currency issuer default rating and senior unsecured rating of B to Hydoo International Holding Ltd.

Fitch also said it assigned an expected rating of B to Hydoo's proposed dollar notes.

The outlook is stable.

The bonds are rated at the same level as Hydoo's senior unsecured rating as they represent direct, unconditional, unsecured and unsubordinated obligations of the company, Fitch said.

The ratings are supported by Hydoo's long track record in trade-center development and its end-user focused sales model, the agency said.

The ratings also consider the company’s experienced management team and sufficient liquidity, Fitch said.

The ratings are constrained by its small business scale, exposure to more volatile commercial-property demand and geographical concentration in lower-tier cities, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.