Moody’s rates LEVC Finance bonds A1

Moody’s Investors Service said it assigned a provisional (P)A1 rating to the credit enhanced bonds to be issued by LEVC Finance Ltd.

“The bonds will be supported by an irrevocable standby letter of credit from Bank of China Ltd., Singapore Branch, which has been assigned a long-term counterparty risk (CR) Assessment of A1(cr),” Moody’s said in a press release.

LEVC is a British Virgin Islands-based subsidiary of Zhejiang Geely Holding Group Co. Ltd.

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