Moody’s rates Powerlong notes B2

Moody’s Investors Service said it assigned a B2 rating to Powerlong Real Estate Holdings Ltd.'s (B1 stable) proposed senior dollar notes.

Powerlong plans to use the proceeds from the proposed notes mainly to refinance its existing debt.

“The proposed bond issuance will improve Powerlong's liquidity profile and will not materially affect its credit metrics, because the company will use the proceeds mainly to refinance existing debt,” Cedric Lai, Moody's vice president and senior analyst, said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.