Moody’s assigns Yili, notes A3

Moody’s Investors Service has assigned A3 ratings to Yili Industrial Group Co. Ltd. and its planned bonds. Subsidiary Yili Holding Investment Ltd. will sell the bonds, which Yili Industrial will guarantee.

“Yili’s A3 issuer rating reflects its leading position in China’s dairy market, strong distribution capabilities, integrated business model that helps safeguard product quality, as well as its track record of maintaining a robust financial profile through the cycles,” said Ying Wang, a Moody’s vice president and senior analyst, in a press release.

The proceeds will be used for refinancing and general corporate purposes.

The outlook is stable. The outlook reflects the expectation Yili maintain the good quality and high food safety standards of its products, prudently manage capital spending and investments and protect its strong liquidity, the agency said.

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