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Moody’s rates Bosci bonds A1
Moody's Investors Service said it assigned a definitive A1 rating to the $300 million of 1.25% credit enhanced bonds due 2023 issued by Bosci (BVI) Ltd.
The bonds are supported by an irrevocable standby letter of credit from China Construction Bank Corp., Hong Kong Branch, which Moody’s assigned a long-term counterparty risk (CR) Assessment of A1(cr).
“The A1 rating of the bonds is based on the CR Assessment of the LC bank. The bonds are fully supported by an irrevocable USD-denominated SBLC which is an unsecured and unsubordinated obligation of the LC bank,” Moody’s said in a press release.
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