Moody's assigns Beijing housing bonds A1

Moody's Investors Service said it assigned Beijing Public Housing Center’s planned dollar-denominated senior unsecured bonds an A1 rating. Beijing Public Housing will guarantee the bonds to be sold by subsidiary Yan Gang Ltd.

The A1 rating reflects the issuer’s 100% ownership by A1-rated Beijing Public Housing, the guarantee provided by Beijing Public Housing Center and that the bonds rank equally with the other senior unsecured obligations of the guarantor, Beijing Public Housing, Moody’s said.

Beijing Public Housing will use the proceeds for project construction and general corporate purposes.

The outlook is stable.

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