Moody’s assigns Ba3 to Yanlord notes

Moody's Investors Service said it assigned a Ba3 rating to Yanlord Land (HK) Co., Ltd.’s proposed dollar-denominated notes. The notes will be guaranteed by Yanlord Land Group Ltd., which is rated Ba2.

“The proposed bond will have a limited impact on Yanlord's credit metrics,” said Cedric Lai, a Moody's vice president and senior analyst, in a press release.

Proceeds will be used for project development and acquisition and for general corporate purposes.

The company’s rating is a notch lower than the corporate family rating because of subordination risk, the agency said.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.