Fitch gives Chengdu Xingcheng notes BBB+

Fitch Ratings said it gave Chengdu Xingcheng Investment Group Co., Ltd.'s planned dollar-denominated senior unsecured notes a BBB+ rating. The notes will be sold under CXIG's $1.5 billion medium-term note program.

“The proposed notes will be issued by CXIG's wholly owned subsidiary, Xingcheng (BVI) Ltd., and will be unconditionally and irrevocably guaranteed by CXIG,” Fitch said in a press release.

The proceeds will be used for offshore refinancing and general corporate purposes.

The outlook is stable.

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