Moody's rates Rhythm Flaming notes P-2

Moody's Investors Service said it assigned a provisional P-2 rating to the credit enhanced notes to due 2020 be issued by Rhythm Flaming Ltd.

The notes will be guaranteed by SCPG Holdings Co., Ltd. and supported by an irrevocable standby letter of credit from Bank of Shanghai Co., Ltd., Shenzhen branch, Moody's said.

The Bank of Shanghai Co., Ltd. was assigned a short-term counterparty risk assessment of P-2(cr), the agency said.

The rating of the notes is based on the bank's counterparty risk assessment, Moody's said.

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