Moody's gives Jardine A3

Moody's Investors Service said it assigned an A3 issuer rating to Jardine Strategic Holdings Ltd.

The outlook is stable.

Jardine Strategic and Jardine Matheson Holdings Ltd are the co-holding companies of the Jardine Group, the agency added.

Moody's said it currently has an A3 rating on the $300 million bonds irrevocably and unconditionally guaranteed by Jardine Strategic.

"The A3 ratings reflect the Jardine Group's prudent business and financial practices, as underscored by predictable and progressive strategies," said Elizabeth Allen, a Moody's VP/senior credit officer.

"The ratings are further supported by its business diversity and scale, which result in steady profits and cash flow. Its business portfolio comprises a number of strong franchises across Asia."

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