Fitch rates Qingdao China Prosperity notes BBB

Fitch Ratings said it assigned Qingdao China Prosperity State-owned Capital Operation (Group) Co., Ltd.'s proposed dollar-denominated senior unsecured notes a rating of BBB. Fitch rates the company BBB.

The proposed notes will be sold by wholly owned subsidiary Huatong International Investment Holdings Co., Ltd., and guaranteed by Qingdao.

The proceeds will be used for working capital and project construction.

The outlook is stable.

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