Fitch gives Beijing Environment Sanitation notes BBB+

Fitch Ratings said it assigned a long-term foreign currency issuer default rating of BBB+ to Beijing Environment Sanitation Engineering Group Co., Ltd.

The outlook is stable.

At the same time, the agency assigned a senior unsecured rating of BBB+ to the company and an expected rating of BBB+ to the proposed euro notes to be issued by Beijing Environment (BVI) Co., Ltd., which will be unconditionally and irrevocably guaranteed by Beijing Environment Sanitation.

Fitch said Beijing Environment Sanitation’s rating is linked to, but not equalized with, the agency’s internal assessment of the creditworthiness of Beijing municipality, under the agency's government-related entity criteria.

The agency said it assesses the company’s status, ownership and control by the municipality and support track record and expectation as strong and the social-political and financial implications of default as moderate.

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