Fitch Withdraws Rating on Regal Forest Holding Co. Ltd.s Proposed Sr. Notes

Fitch Ratings has withdrawn the ‘BB-(exp)’ rating on Regal Forest Holding Co. Ltd’s (RFH) USD300 million senior notes issuance.

The withdrawal of the rating follows unfavorable market conditions to sell the notes. As there is no set time frame for resuming the issuance process, no rating is required at this time. Fitch will provide investors with further information on the notes if and when the issuer resumes the sale process.

Fitch currently rates RFH as follows:

–Local currency Issuer Default Rating (IDR) ‘BB-‘;

–Foreign currency IDR ‘BB-‘.

Applicable Criteria and Related Research:

–‘Corporate Rating Methodology’, May 28, 2014.

Applicable Criteria and Related Research:

Corporate Rating Methodology – Including Short-Term Ratings and Parent and Subsidiary Linkage

Additional Disclosure

Solicitation Status