Moody's: No impact on Country Garden

Moody's Investors Service said it sees no impact on Country Garden Holdings Co. Ltd.'s Ba2 corporate family rating or on its senior unsecured rating of Ba3 following news that the company is issuing an additional $75 million of its five-year senior unsecured 144A/regulation S bonds.

The outlook remains negative.

The bond rating has been lowered by one notch from the corporate family rating of Ba2 to reflect the risks of legal and structural subordination, Moody's said.

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