Moody’s assigns Chouzhou notes Baa3

Moody’s Investors Service said it assigned a Baa3 senior unsecured rating to the proposed dollar-denominated notes to be sold by Chouzhou International Investment Ltd. and guaranteed by Yiwu State-owned Capital Operation Co., Ltd., which Moody’s rates Baa3. The outlook is stable.

Yiwu plans to use the proceeds to invest in key infrastructure construction projects and for general corporate purposes.

The Baa3 rating on the proposed notes reflects the guarantee to be provided by Yiwu, Moody’s said.

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