Moody's assigns A3 to Hualu notes

Moody's Investors Service said it assigned an A3 rating to the planned senior unsecured notes to be issued by Hualu International Finance (BVI) Ltd. and guaranteed by Hualu Holdings Co., Ltd.

"The A3 rating of the proposed notes reflects the unconditional and irrevocable guarantee from Hualu, and the fact that the notes rank pari passu with Hualu's other senior unsecured obligations," said Roy Zhang, a Moody's vice president and senior analyst, in a press release.

Hualu will use the proceeds to finance onshore project construction, offshore businesses, and for refinancing.

The outlook is stable.

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