Fitch rates Beijing Infrastructure notes A+

Fitch Ratings said it assigned Beijing Infrastructure Investment's (BII) (A+/stable) $300 million 3 5/8% senior unsecured notes due 2019 a final long-term foreign currency rating of A+.

Proceeds will be used primarily for the development of the urban railway transit system in Beijing, as working capital and for general corporate purposes.

The notes, to be issued by Eastern Creation Investment Holdings Ltd., are unconditionally and irrevocably guaranteed by Beijing Infrastructure Investment (Hong Kong) Ltd. (BII HK), a wholly owned subsidiary of BII.

Fitch said the notes are rated at the same level as BII's issuer default rating, given the strong link between BII HK and BII and because the keepwell and liquidity support deed and deed of equity interest purchase undertaking transfer the ultimate responsibility of payment to BII.

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