Moody's rates Eastern Air Overseas bonds A1

Moody's Investors Service said it assigned a provisional (P)A1 rating to the Singapore-dollar denominated credit enhanced bonds to be sold by Eastern Air Overseas (Hong Kong) Corp. Ltd. The issuer is a unit of China Eastern Airlines Corp. Ltd.

The bonds will be supported by Industrial and Commercial Bank of China Ltd., Shanghai Municipal Branch’s irrevocable letter of credit. The bonds’ rating is based on the bank’s creditworthiness, the agency said.

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