Moody's: Yuzhou notes B2

Moody's Investors Service said it assigned a provisional B2 rating to the dollar-denominated senior unsecured notes proposed by Yuzhou Properties Co. Ltd.

Moody's also affirmed Yuzhou's B1 corporate family rating and B2 senior unsecured debt rating.

The outlook is stable.

The company will use the proceeds from the proposed issuance to repay some of its existing debt and fund land acquisitions and development needs, as well as for general corporate purposes.

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