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Fitch rates China Shandong notes BBB+
Fitch Ratings said it assigned China Shandong Hi-Speed Financial Group Ltd.'s planned senior unsecured notes a BBB+ rating.
The notes will be issued by the company’s wholly owned subsidiary Coastal Emerald Ltd. under its $2 billion medium-term note program.
“CSFG will provide a guarantee to the proposed note while CSFG's parent Shandong Hi-Speed Group Co., Ltd. (A/stable) will provide a keepwell and equity interest purchase undertaking to the proposed note,” Fitch said in a press release.
The proceeds will be used to refinance the note under the same program that will mature in June and for general corporate purposes.
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