Moody's rates Country Garden bonds Ba3

Moody's Investors Service said it assigned a Ba3 senior unsecured debt rating to the proposed U.S. dollar bonds to be issued by Country Garden Holdings Co. Ltd.

The agency said it also affirmed Country Garden's Ba3 corporate family rating. The outlook is positive.

"The proposed bonds will enhance Country Garden's liquidity and will improve its funding stability through lengthening its debt maturity profile," said Lina Choi, a Moody's vice president and senior analyst, in a news release.

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