Fitch Rates Kangde Xin at 'BB'; Outlook Stable

(The following statement was released by the rating agency)

HONG KONG, November 10 (Fitch) Fitch Ratings has assigned

Long-Term

Foreign-Currency Issuer Default Rating and senior unsecured

rating of 'BB' to

Kangde Xin Composite Material Group Co., Ltd. (KDX). The Outlook

is Stable.

Fitch also has assigned Top Wise Excellent Enterprise Co.,

Ltd.'s proposed US

dollar senior notes a 'BB(EXP)' expected rating. Top Wise

Excellent Enterprise

is a fully owned subsidiary of KDX and the proposed note

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