Moody’s assigns Shanghai Port notes A1

Moody’s Investors Service said it assigned an A1 backed senior unsecured rating to the proposed dollar-denominated bonds to be issued by Shanghai Port Group (BVI) Development 2 Co., Ltd., a wholly-owned subsidiary of Shanghai International Port (Group) Co., Ltd., which Moody’s rates A1.

The parent will guarantee the notes.

Shanghai International plans to use the proceeds mainly to refinance debt.

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