Moody's assigns Yuyao Shuncai bonds Baa3

Moody's Investors Service said it assigned a Baa3 senior unsecured rating to the planned dollar-denominated bonds to be issued by Yuyao Economic Development Zone Construction Investment and Development Co., Ltd. (YEDZ), a wholly-owned subsidiary of Yuyao Shuncai Investment Holding Co., Ltd.

The agency rates the parent Baa3. The bond rating is derived from the parent’s guarantee on the bonds, Moody’s said.

Yuyao Shuncai plans to use the proceeds to refinance its offshore bonds.

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.