Moody’s gives China Hongqiao notes B2

Moody’s Investors Service said it assigned a B2 senior unsecured rating to the proposed dollar notes to be issued by China Hongqiao Group Ltd. (B1).

The outlook is positive.

The agency said the bond rating reflects Moody's expectation that Hongqiao will complete the bond issuance upon satisfactory terms and conditions, including proper registrations with the National Development and Reform Commission and the State Administration of Foreign Exchange in China (A1 stable).

The proceeds from the proposed issuance will be used for refinancing purposes.

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