Fitch Rates Guangzhou Metro Group's Proposed Offshore Yuan Notes A

MT Newswires Live
Aug 11

Fitch Ratings has given an A rating to Guangzhou Metro Group's proposed offshore yuan senior unsecured notes, according to a Monday release.

Subsidiary Guangzhou Metro Investment Finance (BVI) will issue the notes under its $3 billion medium-term note program.

Guangzhou Metro Investment Finance (HK), the group's main offshore financing and investment arm, will guarantee the notes.

The notes serve as the investment platform's direct, unconditional, unsubordinated, and unsecured obligations while ranking equally with all its other unsecured and unsubordinated obligations.

The notes' rating is equivalent to the parent's issuer default rating, with shifts in the latter to prompt similar movements in the notes.

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