(The following statement was released by the rating agency)
HONG KONG, December 28 (Fitch) Fitch Ratings says Modern Land
(China) Co.,
Limited's (Modern Land: B+/Stable) proposed issuance of an
additional USD150m of
its 6.875% senior notes due 2019 will not affect the existing
'B+' rating and
Recovery Rating of 'RR4' on the bond.
The proposed and existing bonds are rated at the same level as
Modern Land's
senior unsecured rating as they represent direct, unconditional,
unsecured and
unsubo
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