Fitch rates China Shandong notes BBB+

Fitch Ratings said it assigned China Shandong Hi-Speed Financial Group Ltd.'s planned senior unsecured notes a BBB+ rating.

The notes will be issued by the company’s wholly owned subsidiary Coastal Emerald Ltd. under its $2 billion medium-term note program.

“CSFG will provide a guarantee to the proposed note while CSFG's parent Shandong Hi-Speed Group Co., Ltd. (A/stable) will provide a keepwell and equity interest purchase undertaking to the proposed note,” Fitch said in a press release.

The proceeds will be used to refinance the note under the same program that will mature in June and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.