Moody’s rates Shandong Gold bonds A1

Moody’s Investors Service said it assigned a provisional A1 rating to the credit enhanced bonds to be issued by Shandong Gold International Mining Investment Holding Ltd.

The bonds will be supported by an irrevocable and standby letter of credit from Bank of China Ltd., Shandong Branch.

The long-term counterparty risk assessment assigned to the bank is A1(cr), Moody’s said.

The issuer is an indirect wholly-owned subsidiary of Shandong Gold Group Co., Ltd., the agency said.

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