Moody's: Asciano bond Baa2

Moody's Investors Service said it assigned a Baa2 senior rating to Asciano Finance Ltd.'s Rule 144A bond issuance totaling $1 billion.

The proceeds will be used to repay existing debt.

The outlook is stable.

The notes are guaranteed by Asciano Ltd. and certain subsidiaries from time to time.

The new bond ranks pari passu with the company's other rated notes, including its $750 million of 5% fixed-coupon notes due April 7, 2018 and its $250 million of 6% fixed-coupon notes due April 7, 2023.

The ratings were assigned by evaluating factors believed to be relevant to the credit profile of the issuer, such as the business risk and competitive position of the company versus others within its industry, Moody's said.

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