Fitch rates Wuhan Urban, bonds BBB+

Fitch Ratings said it gave Wuhan Urban Construction Group Co., Ltd. long-term foreign- and local-currency issuer default ratings of BBB+. Fitch also assigned Wuhan Urban's planned dollar-denominated senior unsecured bonds a BBB+ rating.

“The proposed bonds are rated at the same level as Wuhan Urban's long-term foreign-currency IDR because they will be directly issued by the company and will constitute its direct, unconditional, unsubordinated and unsecured obligations,” Fitch said in a press release.

The outlook is stable.

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