Fitch Rates CSSC (Hong Kong) Shipping’s Proposed USD Green Bonds ‘A(EXP)’
Fitch Ratings has assigned an expected rating of ‘A(EXP)’ to CSSC (Hong Kong) Shipping Company Limited’s (CSSC HK Shipping, A/Stable) proposed senior unsecured US dollar ‘green bonds’. The proposed notes are to be issued by CSSC Capital 2015 Limited, CSSC HK Shipping’s wholly owned offshore special-purpose vehicle registered in the British Virgin Islands.
The proposed notes will be listed on the Hong Kong Stock Exchange, and the proceeds will be used to develop the company’s leasing business, including financing or refinancing expenditure on eligible ‘green’ and ‘blue’ projects in accordance with CSSC HK Shipping’s green finance framework, as well as the refinancing of existing indebtedness and for general corporate purposes. The final ratings are contingent upon the receipt of final documents conforming to the information already received.