Moody’s rates Powerlong notes B3

Moody's Investors Service said it assigned a B3 senior unsecured debt rating to the dollar-denominated notes proposed by Powerlong Real Estate Holdings Ltd.

The outlook is stable.

"Powerlong's proposed note issuance and refinancing will not result in any material increase in its debt leverage, and will at the same time reduce interest costs and improve the company's debt maturity profile," Moody's analyst Dylan Yeo said in a news release.

Moody's expects Powerlong to use the proceeds to refinance its existing debt at a lower cost. Accordingly, the proposed notes will not have any material impact on its debt leverage.

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