Fitch gives CSSC (Hong Kong) notes A

Fitch Ratings said it assigned an expected rating of A to CSSC (Hong Kong) Shipping Co. Ltd.'s proposed senior unsecured dollar-denominated notes. The proposed notes are to be issued by CSSC Capital 2015 Ltd., CSSC HK Shipping's wholly owned offshore special-purpose vehicle registered in the British Virgin Islands.

The proceeds will be used to develop CSSC HK Shipping's leasing business and to finance its indebtedness.

The expected rating is in line with CSSC HK Shipping's long-term issuer default rating as the proposed notes will be guaranteed by CSSC HK Shipping and will at all times rank pari passu with all its other direct, unsubordinated, unconditional and unsecured obligations.

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