Moody's: Fantasia notes B2

Moody's Investors Service said it assigned a B2 rating to the proposed renminbi-denominated senior notes to be issued by Fantasia Holdings Group Co. Ltd. The B1 corporate family rating and B2 senior debt rating were affirmed, and the outlook is stable.

The proceeds from the notes will be used to refinance some of the company's existing debt, to fund property development and for general corporate purposes.

The agency said Fantasia's B1 corporate family rating continues to reflect its established niche business model, which balances the development of commercial and residential properties; its stable operating and financial profile; its disciplined approach to financial management; and an established track record in Shenzhen and Chengdu.

However, the rating is constrained by geographic concentration risk and the execution risk associated with the company's expansion into new locations, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.