Moody’s assigns B2 to Zhenro notes

Moody’s Investors Service said it assigned a B2 rating to Zhenro Properties Group Ltd.’s proposed senior unsecured dollar-denominated notes.

“The proposed bond issuance will lengthen Zhenro’s debt maturity profile and will not have a material impact on its credit metrics, because it will mainly use the proceeds to refinance existing debt,” said Cedric Lai, a Moody’s vice president and senior analyst, in a press release.

Proceeds will be used to refinance debt.

The outlook is stable.

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