Moody's gives MCC securities Baa1

Moody's Investors Service said it assigned a Baa1 senior unsecured rating to the planned senior perpetual securities to be issued by MCC Holding (Hong Kong) Corp. Ltd. and guaranteed by Metallurgical Corp. of China Ltd.

"The Baa1 rating reflects the guarantee from MCC and the fact that the perpetual securities will rank pari passu with all other senior unsecured obligations of MCC," said Chenyi Lu, a Moody's vice president and senior credit officer, in a press release.

MCC will use the proceeds to refinance its offshore debt.

The outlook is stable.

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