Fitch rates Nanning notes BBB-

Fitch has published China-based Nanning Communications Investment Group Co., Ltd.'s long-term foreign- and local-currency issuer default ratings of BBB-.

The outlook is stable.

Fitch has also assigned the company’s first-time proposed dollar-denominated bonds a rating of BBB-.

The proposed bonds will constitute the issuer's direct, unconditional, unsubordinated and unsecured obligations and will at all times rank pari passu and without any preference among themselves with all other outstanding unsecured and unsubordinated obligations of the issuer.

The company is a government-related entity and major urban developer wholly owned by the Nanning municipal government's Nanning State-owned Assets Supervision and Administration Commission. It plays an important role in urban and transportation infrastructure development, energy and resources, and operates essential public services.

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