Fitch rates Hefei Industry notes BBB

Fitch Ratings said it rated Hefei Industry Investment Holding (Group) Co. Ltd.’s planned senior unsecured offshore notes BBB. Hefei’s indirectly owned subsidiary Xianjin Industry Investment Co. Ltd. will issue the notes.

“The proposed bonds are rated at the same level as HIIG, which will provide an unconditional and irrevocable guarantee,” Fitch said in a press release.

HIIG will use the proceeds for refinancing.

The outlook is stable.

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