Moody’s rates Future Land bond B1

Moody's Investors Service said it assigned a B1 rating to Future Land Development Holdings Ltd.’s (FLDH; Ba3 stable) proposed dollar-denominated senior unsecured bond.

The outlook is stable.

Proceeds will be used to repay some existing debt, and for general corporate purposes.

"The proposed USD notes will improve FLDH's debt maturity profile and lower its overall funding cost, because Moody's expects the majority of the proceeds will be used to refinance the company's higher cost debt," Moody's assistant vice president and analyst Stephanie Lau said in a news release.

© 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.