Moody's assigns Sino-Ocean notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the proposed senior unsecured notes to be issued by Sino-Ocean Land Treasure IV Ltd. and guaranteed by parent Baa3-rated Sino-Ocean Group Holding Ltd.

“The Baa3 rating on the proposed notes reflects the irrevocable and unconditional guarantee from Sino-Ocean,” Moody’s said in a press release.

Sino-Ocean plans to use the proceeds mainly to refinance debt.

The outlook is stable.

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