Fitch Ratings has given an A rating to CCB Shipping and Aviation Leasing's senior unsecured US dollar green notes, according to a Monday release.
CCB Financial Leasing extends a keep well and liquidity support deed as well as a deed of asset-purchase undertaking, which support the notes, Fitch said.
The notes' rating is equivalent to the company's long-term issuer default rating, as they serve as the issuer's direct, unconditional, unsubordinated, and unsecured obligations.
The notes will also rank equally at all times, with no preference given to any of them, Fitch said.
The company's rating stems from a very high potential of extraordinary support from CCB Financial Leasing and ultimate parent China Construction Bank (HKG:0939, SHA:601939), in case of stress, according to the rating agency.
The notes will be issued under the company's $5 billion medium-term note program.