Moody’s rates Yangzhou Economic notes Ba1

Moody’s Investors Service said it assigned a first-time Ba1 corporate family rating to Yangzhou Economic and Technological Development Zone Development Corp.

Moody's also assigned a Ba1 rating to the proposed dollar senior notes to be issued by Yangzhou Economic.

The outlook is stable.

The agency said the Ba1 corporate family rating primarily combines its b1 baseline credit assessment and Moody's assessment that there is a strong likelihood that the company will receive support from, and a high level of dependence on, China (A1 stable), when in need, which results in a corporate family rating that is three notches above its baseline credit assessment.

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