Moody's assigns Shanghai Electric notes A2

Moody's Investors Service said it assigned an A2 rating to the senior unsecured notes to be issued by Shanghai Electric Group Global Investment Ltd. and guaranteed by Shanghai Electric (Group) Corp. The outlook is negative.

The A2 rating of the proposed notes reflects the guarantee of SEGC, and that the notes are ranked pari passu with SEGC's other senior unsecured obligations.

The proposed issuance will have limited effect on SEGC's credit metrics because the company will primarily use the proceeds to refinance offshore debt.

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