Fitch rates Guangxi Communications notes BBB

Fitch Ratings said it assigned an expected rating of BBB to Guangxi Communications Investment Group Co., Ltd.'s (GCI) proposed senior unsecured dollar-denominated notes.

The notes will be issued by Sino Trendy Investment Ltd., which is a wholly owned subsidiary of GCI, which is based in Hong Kong.

GCI will provide an unconditional and irrevocable guarantee on the proposed notes, which will constitute its direct, unsubordinated, unconditional and unsecured obligations and rank pari passu with all unsecured and unsubordinated obligations, the agency said.

The proceeds will be used for general corporate purposes, Fitch said.

Any change in the issuer default ratings of GCI will result in a similar change in the ratings of the proposed notes, the agency noted.

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