Moody's: Baosteel notes A3

Moody's Investors Service said it assigned a definitive A3 senior unsecured rating to the following offshore yen-denominated bonds issued by Baosteel Group Corp.:

• ¥1 billion of 3 1/8% bonds due 2013;

• ¥2.1 billion of 3½% bonds due 2014; and

• ¥500 million of 4 3/8% bonds due 2016.

The outlook is stable.

Moody's said the definitive rating on these debt obligations confirms the provisional senior unsecured rating assigned on Nov. 21. The terms and conditions stated in the offering circular dated Nov. 25 are in line with Moody's expectation.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.