Fitch: Hangzhou Hikvision notes A-

Fitch Ratings said it assigned a final rating of A- to Hangzhou Hikvision Digital Technology Co., Ltd.’s €400 million 1¼% senior unsecured notes due 2019.

The assignment of the final rating follows the receipt of documents confirming to information already received, Fitch said.

The final rating is in line with the expected rating assigned in January, the agency said.

The notes are rated at the same level as Hikvision’s long-term issuer default rating as they constitute direct, unconditional, unsecured and unsubordinated obligations of the company, Fitch said.

The ratings benefit from a one-notch uplift due to the company’s moderately strong linkage with China Electronics Technology Group Corp., the agency said.

Hikvision has a stand-alone rating level of BBB+ and is China Electronics only platform in the surveillance market, Fitch said.

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