Fitch Ratings has published an A rating for Shandong Hi-Speed Holdings Group's (HKG:0412) proposed senior unsecured notes, according to a Sunday release.
The rating is similar to the long-term foreign currency issuer default rating of guarantor Shandong Hi-Speed Group, given the latter's unconditional and irrevocable guarantee, Fitch said.
The notes will serve as the guarantor's obligations and rank equally at all times with the other obligations.
Changes in Shandong Hi-Speed Group's rating would trigger similar actions on the proposed notes, Fitch said.
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