Fitch rates Hefei Industry bonds BBB

Fitch Ratings said it assigned Hefei Industry Investment Holding (Group) Co., Ltd.'s planned dollar-denominated senior unsecured offshore bonds a BBB rating. Xianjin Industry Investment Co. Ltd., an indirect, wholly owned unit will issue the bonds.

The bonds are rated at the same level as HIIG, which will guarantee them, Fitch said.

The proceeds will be used for project construction and equipment procurement.

The outlook is stable.

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