Moody’s rates Future Land CFR Ba3, debt B1

Moody's Investors Service said it assigned a Ba3 corporate family rating to Future Land Holdings Ltd.

The agency also assigned a B1 rating to Future Land's senior unsecured debt and B1 ratings to its $200 million senior unsecured bond due 2018 and RMB 1.5 billion senior notes due 2016.

The outlook is stable.

"Future Land's Ba3 corporate family rating reflects its long and solid track record in Jiangsu Province," Moody's vice president and senior analyst Lina Choi said in a news release.

"The rating also recognizes that the company has reached an operating scale similar to that of developers rated at the low end of the Ba rating category. It has done so through its four standard product lines that maximize efficiency and strengthen its sales execution."

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