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Fitch Affirms Tianjin Free Trade Zone Investment at 'BBB'
Published on: 2020-11-04
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FTZFitch Ratings has affirmed China-based Tianjin Free Trade Zone Investment Holding Group Co., Ltd.'s Long-Term Foreign- and Local-Currency Issuer Default Ratings at 'BBB'. The Outlook is Negative, which mirrors Fitch's assessment of the creditworthiness of Tianjin municipality.

Fitch has also affirmed the 'BBB' rating on Tianjin FTZIH's USD230 million 6.25% senior unsecured notes due December 2021. The notes are issued by Hongkong Baorong Development Limited and are unconditionally and irrevocably guaranteed by Tianjin FTZIH.

Tianjin FTZIH is part of the Tianjin municipality's flagship economic development zone - Tianjin Port Free Trade Zone - and plays an important role in implementing the blueprint of the municipality and the Tianjin Port Free Trade Zone Management Committee for the free trade zone.

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