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Published on 3/15/2021 in the Prospect News Emerging Markets Daily.

Fitch rates Jiangsu Fang Yang bonds BB

Fitch Ratings said it rated Jiangsu Fang Yang Group Co., Ltd.'s proposed dollar-denominated bonds BB.

The bonds will be issued by Haichuan International Investment Co., Ltd., an indirectly wholly owned subsidiary of Fang Yang. Fang Yang, rated BB, will guarantee the notes.

Fang Yang will use the proceeds to repay its offshore debt.


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