Fitch: Assigns 'A-' Rating to Hualu Group's Proposed Bond Issue

On October 12, Fitch assigned an 'A-' rating to the proposed guaranteed senior unsecured bonds to be issued by China-based Hualu Holdings Co., Ltd. ("Hualu Group", A-/Stable). The bonds will be issued by Hualu International Finance (BVI) Limited and irrevocably and unconditionally guaranteed by Hualu Group. The proceeds are intended to be used to repay existing offshore debt.