Moody's rates Capital Operation 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., guaranteed by Capital Operation Co., Ltd.

The outlook is stable.

The proceeds will be used to invest in key infrastructure construction projects and for general corporate purposes, Moody's said.

The rating on the proposed notes reflects the irrevocable and unconditional guarantee from Capital Operation, the agency said.

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