Moody’s: Imperial Pacific unaffected by bond issue

Moody's Investors Service said that Imperial Pacific International Holdings Ltd.'s issuance of $70 million senior unsecured bonds is credit positive but will not immediately affect its B3 corporate family rating or the B2 senior secured rating assigned to the proposed dollar-denominated bonds to be issued by Imperial Pacific International (CNMI), LLC and guaranteed by Imperial Pacific.

The outlook remains negative.

Proceeds from the bonds will be used to finance the development of Phase I of the Saipan project, the Grand Mariana project.

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