Moody's gives China General Nuclear notes A3

Moody's Investors Service said it assigned a definitive A3 rating to China Uranium Development Co. Ltd.'s $600 million 3½% five-year senior unsecured notes due Oct. 8 2018.

The notes are unconditionally and irrecoverably guaranteed by China General Nuclear Power Corp. (A3 stable).

Moody's definitive rating on this debt obligation follows China General Nuclear's successful completion of its dollar-denominated note issuance, the final terms and conditions of which are consistent with the agency's expectations.

The company will use the proceeds from the issuance to fund capital expenditure for the construction of its uranium development projects and other general corporate purposes.

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