Moody’s rates Yiwu State-Owned Capital notes Baa3

Moody's Investors Service said it assigned a Baa3 senior unsecured rating to the proposed dollar-denominated notes to be issued by Chouzhou International Investment Ltd. and guaranteed by Yiwu State-Owned Capital Operation Co., Ltd. (Baa3 stable).

The outlook is stable.

Proceeds will be used to invest in key infrastructure construction projects and for general corporate purposes.

Moody’s said the Baa3 rating on the proposed notes reflects the irrevocable and unconditional guarantee from Yiwu State-Owned Capital.

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