Moody's assigns Zhejiang Port bonds A1

Moody's Investors Service said it assigned an A1 senior unsecured rating to the upcoming guaranteed dollar-denominated bonds to be issued by Zhejiang Seaport International Co., Ltd., a wholly-owned subsidiary of Zhejiang Provincial Seaport Investment & Operation Group Co. Ltd. and guaranteed by Zhejiang Port.

"The A1 senior unsecured rating on the bonds reflects the irrevocable and unconditional guarantee from Zhejiang Port," said Ralph Ng, a Moody's vice president and senior analyst, in a press release.

Zhejiang Port plans to use the proceeds to refinance debt and the remainder for international business expansion.

The outlook is stable.

© 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.