Fitch assigns Shangrao notes BBB-

Fitch Ratings said it rated Shangrao Investment Holding Group Co., Ltd.'s planned dollar-denominated senior notes BBB-. SIHG's wholly owned subsidiary, Shangrao Investment Holdings International Co. Ltd., will issue the notes, which will be guaranteed by SIHG.

“The proposed bonds are rated at the same level as SIHG's issuer default rating (IDR) because the direct guarantee structure transfers the ultimate responsibility of payment to SIHG,” Fitch said in a press release.

The proceeds will be used to refinance SIHG's debt and to finance projects in line with the company's sustainability finance framework.

The outlook is stable.

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