Moody's rates MCE bonds B1

Moody's Investors Service said it assigned a definitive B1 rating to the $1 billion of 5% eight-year senior bonds issued by MCE Finance Ltd., a subsidiary of Melco Crown Entertainment Ltd.

The outlook is stable.

Moody's definitive rating on this debt obligation affirms the provisional rating assigned on Jan. 29.

The company will use the proceeds from the issuance to redeem its $600 million of bonds and to repay part of Melco's RMB 2.3 billion of bonds.

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