Moody's affirms Chinese Future

Moody's Investors Service said it affirmed the Ba2 corporate family rating of Chinese Future Corp. and the B1 foreign currency rating assigned to Chinese Future's $225 million senior notes due 2015, following the completion of the notes' issuance.

The outlook is stable.

Moody's added that Chinese Future plans to apply $198 million of the funds raised to fund a portion of the total acquisition cost of the 25-year concession rights to the Hangzhou Ring Road Expressway.

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