Moody’s gives B1 to Yuzhou notes

Moody's Investors Service said it assigned a B1 senior unsecured rating to the dollar-denominated notes to be issued by Yuzhou Properties Co. Ltd. (B1 positive).

Yuzhou plans to use the proceeds mainly to refinance existing debt and for general working capital purposes.

"The proposed notes will improve Yuzhou's liquidity, lengthen its debt maturity and lower its funding costs," Franco Leung, Moody's vice president, senior credit officer and international lead analyst for Yuzhou, said in a news release.

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