Moody's gives Swire notes A2

Moody's Investors Service said it assigned an A2 rating to the dollar-denominated senior unsecured notes issued by Swire Properties MTN Financing Ltd., based on the unconditional and irrevocable guarantee of Swire Properties Ltd.

The notes were issued under Swire Properties MTN Financing's $3 billion medium-term note program. The proceeds will be used for working capital purposes.

The outlook is stable.

"The new issue will provide funding to Swire Properties to develop its business and will further enhance its funding stability through improving its debt maturity," Moody's vice president and senior analyst Kaven Tsang said in a news release.

© 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.