Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Y > Headlines for Yuzhou Group Holdings Co. Ltd. > News item |
Moody’s assigns B1 to Yuzhou notes
Moody’s Investors Service said it assigned a B1 rating to Yuzhou Group Holdings Co. Ltd.’s proposed senior unsecured dollar-denominated notes. Moody’s corporate family rating for the company is Ba3.
“Yuzhou’s B1 senior unsecured bond rating is one notch below its CFR because of the risk of structural subordination. This subordination risk reflects the fact that the majority of claims are at the operating subsidiaries and have priority over claims at the holding company in a bankruptcy scenario,” Moody’s said in a press release.
Yuzhou plans to use the proceeds to refinance its medium to long-term offshore debt.
The issuance will improve Yuzhou’s liquidity profile and will not hurt its credit metrics, because the company will use the proceeds to refinance debt, Moody’s said.
© 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.