Moody’s rates China Huadian notes A2

Moody’s Investors Service said it assigned an A2 senior unsecured rating to the proposed senior guaranteed perpetual securities to be issued by China Huadian Overseas Development Management Co. Ltd. and guaranteed by China Huadian Corp. Ltd. (A2 stable).

The outlook is stable.

The proceeds will be used for investments in overseas projects, refinancing the group's debt and other general corporate purposes.

“The perpetual securities will not have a material impact on CHD's overall credit profile – if they are issued as planned – because the scale of the issuance will be manageable for CHD,” Boris Kan, Moody's vice president and senior credit officer, said in a news release.

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