China Cinda Asset Management

MT Newswires Live07-17

Fitch Ratings assigned an A-(EXP) expected rating to China Cinda (HK)'s proposed senior unsecured notes, according to a Monday release from the rating agency.

The rating agency said the notes are part of China Cinda (HK) subsidiary China Cinda (2020) I Management's $5 billion medium-term note program.

Fitch said China Cinda (HK)'s ratings are similar to those of parent China Cinda Asset Management (HKG:1359) since it is a wholly owned subsidiary and is the parent's main offshore financing and operating unit.

The rating agency rated the notes at the same level as China Cinda (HK)'s issuer default rating due to its unconditional and irrevocable guarantees for the notes.

Future actions on the parent's issuer default rating would lead to similar actions on China Cinda (HK)'s rating as well as the medium-term note program and the rated notes, Fitch said.

Price (HKD): $0.69, Change: $+0.01, Percent Change: +1.47%

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