Moody's assigns China South City senior notes B2

Moody's Investors Service said it assigned a first time provisional B1 corporate family rating to China South City Holdings Ltd., along with a provisional B2 rating on its proposed dollar-denominated senior notes.

The outlook is stable.

The proceeds will fund construction and expansion of the company's trade centers, ancillary residential units and support facilities in Shenzhen, Nanning, Nanchang, Heyuan and Xi'an, Moody's said.

The ratings reflect the company's unique business model of successfully developing and operating integrated trade centers in Shenzhen, the agency said.

The ratings also consider its ability to access large suburban land plots at attractive prices, Moody's said, and support it receives from the government on infrastructure improvement and favorable project terms.

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