Moody's confirms Okeanos

Moody's Investors Service said it has confirmed the rating of Okeanos Investment Corp. Ltd. at Aa2 and concluded the rating review action.

The agency added that the complete rating action is as follows: floating-rate notes due 2011 confirmed at Aa2, previously on March 31 downgraded to Aa2.

According to Moody's, repayment of the notes relies largely on cash flow generated by residential unit purchase receivables of a Singaporean real estate project, RiverGate.

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