Fitch rates Central China Real Estate notes BB-

Fitch Ratings said it assigned an expected rating of BB- to Central China Real Estate Ltd.'s proposed dollar-denominated senior notes due 2022.

The proposed notes are rated at the same level as Central China Real Estate's senior unsecured rating because they constitute its direct and senior unsecured obligations, Fitch said.

The proceeds will be used for refinancing.

The ratings are supported by the company's position as a leading real estate developer in China's Henan province with broad housing-product diversification and a growing non-property development business in rental properties and project management, Fitch explained.

The ratings also are supported by the company's healthy financial profile, the agency said.

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