Fitch rates LVGEM notes B

Fitch Ratings said it assigned LVGEM (China) Real Estate Investment Co. Ltd.'s proposed dollar-denominated senior notes a B rating with a recovery rating of RR4. The notes will be issued by LVGEM's wholly owned subsidiary Gemstones International Ltd. and will be guaranteed by LVGEM. The new bond issuance is concurrent with the exchange offer for the senior unsecured notes due in August. Fitch rates Lvgem B with a stable outlook.

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