Moody’s assigns Henan Water bond A3

Moody’s Investors Service said it assigned an A3 senior unsecured rating to the proposed dollar-denominated senior unsecured bond to be issued by Henan Water Conservancy Investment Group Co., Ltd.

“Henan Water’s A3 issuer rating considers the Henan government’s capacity to support (GCS) score of a2 and the company’s specific characteristics affecting Henan government’s propensity to support, which results in a one-notch downward adjustment from Henan government’s GCS score,” Moody’s said in a press release.

Henan Water will use the proceeds for project investments, refinancing debt and general corporate purposes.

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