Fitch assigns Tianfeng notes BBB-

Fitch Ratings said it assigned an expected BBB- rating Tianfeng Securities Co., Ltd.'s (TF Securities, BBB-) senior unsecured notes. The maturity structure will be finalized upon settlement.

“The proposed notes are rated the same level as TF Securities' issuer default rating (IDR),” Fitch said in a statement.

The proceeds will be used to refinance existing offshore debt.

The outlook is stable.

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