Moody's rates Yuzhou bonds B2

Moody's Investors Service said it assigned a B2 rating to Yuzhou Properties Co. Ltd.'s proposed senior and unsecured bonds.

At the same time, the agency affirmed Yuzhou's B1 corporate family rating and B2 senior unsecured debt rating.

The company will use the new funding for debt repayments and general working purposes.

The outlook is stable.

"The new bond will further strengthen Yuzhou's already strong liquidity, and support its strong sales momentum," Moody's vice president and senior analyst Lina Choi said in a news release.

"It will also lengthen the average tenure of Yuzhou's debt portfolio at reasonable costs, adding to the stability of its offshore funding platform."

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