Fitch rates Zhoushan City notes BBB-

Fitch Ratings said it assigned an expected BBB- rating to Zhoushan City Investment Group Corp. Ltd.'s proposed dollar-denominated senior unsecured notes.

The notes will constitute the company's direct, unconditional, unsubordinated and unsecured obligations and will rank pari passu with its other present and future unsecured obligations, Fitch said.

The proceeds will be used for domestic general business development.

The notes are rated at the same level as the company's issuer default rating, the agency said.

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