Fitch rates Yuexiu Property notes BBB-

Fitch Ratings said it assigned Yuexiu Property Co. Ltd.’s proposed dollar-denominated guaranteed notes a rating of BBB-. The notes will be issued under the medium-term note program by subsidiary Westwood Group Holdings Ltd.

Yuexiu will guarantee the notes, and are rated in line with its senior unsecured rating because they will constitute its unconditional, unsecured and unsubordinated obligations, Fitch said.

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

The outlook is stable.

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