Fitch rates Science City bonds BBB

Fitch Ratings said it assigned Science City (Guangzhou) Investment Group Co., Ltd.'s planned dollar-denominated bonds a BBB rating. Fitch’s issuer rating for the company is BBB.

The bonds will be issued by SCI (HK) Development Ltd., an indirectly wholly owned subsidiary of SCI Group.

The proceeds will be used for specific projects, refinancing certain indebtedness and other general corporate purposes.

The outlook is stable.

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