Fitch: Future Land unaffected by tap bond

Fitch Ratings said that Future Land Holdings Co., Ltd.'s (BB/stable) proposed tap of its existing $300 million 6½% senior notes due 2021 will not affect the BB rating on the notes.

The notes were issued by New Metro Global Ltd., a subsidiary of Future Land, and unconditionally and irrevocably guaranteed by Future Land.

The proposed and existing notes will carry the same terms and conditions, and they are rated at the same level as Future Land’s senior unsecured rating because they constitute its direct and senior unsecured obligations.

© 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.