Fitch rates Yancheng Oriental notes BB-

Fitch Ratings said it assigned Yancheng Oriental Investment & Development Group Co., Ltd.’s proposed senior unsecured dollar-denominated notes an expected rating of BB-. Oriental Capital Co. Ltd., a wholly owned subsidiary of Yancheng Oriental, will issue the notes.

Yancheng Oriental, which is rated BB-, will guarantee to the proposed bond.

Proceeds will be used for refinancing and general corporate purposes.

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