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Fitch rates Shaoxing City bonds BBB+
Fitch Ratings said it assigned Shaoxing City Investment Group Ltd.'s planned senior unsecured dollar-denominated notes a BBB+ rating. The bonds will be issued by Shaoxing City Investment, also rated BBB+, directly.
The proceeds will be used for refinancing offshore debt, construction of onshore projects and replenishment of working capital.
The outlook is stable.
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