Fitch rates Chongqing International bond BBB-

Fitch Ratings said it assigned Chongqing International Logistics Hub Park Construction Co., Ltd.'s (CILC) planned dollar-denominated bond a rating of BBB-.

“The proposed notes will constitute CILC's direct, unconditional, unsubordinated and unsecured obligations and will rank pari passu with its other unsecured and unsubordinated obligations. Hence, the notes are rated at the same level as CILC's issuer default rating (IDR),” Fitch said in a press release.

The proceeds will be used for refinancing medium- to long-term offshore debt maturing within one year.

The outlook is stable.

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