Moody's assigns Tianjin Binhai bond Baa2

Moody's Investors Service said it assigned a Baa2 senior unsecured rating to the planned bond to be issued by Zhaohai Investment (BVI) Ltd. and guaranteed by Tianjin Binhai New Area Construction & Investment Group Co., Ltd.

The agency affirmed Tianjin Binhai’s Baa2 ratings on June 21.

The proceeds will be used for refinancing the company's offshore debt.

The outlook is stable.

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