Moody's rates Fosun notes Ba3

Moody's Investors Service said it assigned a Ba3 senior unsecured rating to the euro-denominated notes to be issued by Fortune Star (BVI) Ltd., and guaranteed by Fosun International Ltd.

"The Ba3 rating reflects the guarantee from Fosun and the proposed notes' equal ranking with all other senior unsecured obligations of Fosun." said Lina Choi, a Moody's senior vice president, in a press release.

Fosun will use the proceeds to refinance its offshore debt.

The outlook is stable.

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