Fitch assigns Beijing Infrastructure notes A+

Fitch Ratings said it has assigned Beijing Infrastructure Investment Co. Ltd.'s (A+/stable) $700 million of 2 5/8% senior unsecured notes due 2017 and $300 million of 3¼% senior unsecured notes due 2020 final ratings of A+.

The notes are issued under the company’s $2 billion medium-term note program, which is rated A+.

The proceeds of the proposed issue will be used primarily for the development of the urban railway transit system in Beijing, as working capital and for general corporate purposes, according to Fitch.

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