Fitch Ratings has assigned primary aluminium manufacturer China Hongqiao Group Limited (Hongqiao) a Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BB' with Positive Outlook, and a senior unsecured rating of 'BB'. The agency has also assigned Hongqiao's proposed senior unsecured notes an expected 'BB(exp)' rating.

The final rating of the proposed notes is contingent upon the receipt of documents conforming to information already received. Net proceeds from the issue will mainly be used to expand capacity at its aluminium production and captive power plant.