Moody’s rates Future Land Ba3

Moody's Investors Service said it assigned a Ba3 corporate family rating to Future Land Holdings Co., Ltd.

At the same time, the agency assigned a Ba3 backed senior unsecured rating to the proposed notes issued by New Metro Global Ltd. and guaranteed by Future Land Holdings.

The outlook is positive.

Note proceeds will be used mainly to repay certain of its existing debt.

"Future Land Holdings' Ba3 corporate family rating reflects its status as the Mainland-listed holding company of Future Land Development Holdings Limited, and its direct control over the majority of the group's revenue, assets, cashflow and operations," Moody's vice president and senior analyst Stephanie Lau said in a news release.

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