Moody’s gives A3 to Hitachi notes

Moody's said it assigned an A3 senior unsecured rating Hitachi Ltd.’s first blockchain-based bond, a fixed-rate ¥10 billion digital bond.

"The A3 debt rating is in line with the debt ratings assigned by Moody's to Hitachi's traditional bond issuances," said Roman Schorr, a Moody's vice president and senior analyst, in a press release.

In Hitachi’s press release, the company said it will use the proceeds to refinance what it spent on the construction and refurbishment of Kyoso-to of the central research laboratory (energy-saving building). Hitachi's outlook is stable.

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