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Fitch rates Sinic Holdings notes B+
Fitch Ratings said it assigned Sinic Holdings (Group) Co. Ltd.’s (B+/stable) proposed 364-day U.S. dollar senior notes a B+ rating with a recovery rating of RR4.
The proposed notes are rated at the same level as Sinic's senior unsecured rating because they constitute its direct and senior unsecured obligations, Fitch said.
Sinic intends to use the net proceeds from the issue to primarily refinance its existing debt and for general working capital.
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