Moody's affirms Xinhua Finance bonds at B2

Moody's Investors Service said it affirmed its B2 rating for the senior unsecured bonds issued by China-based Xinhua Finance Ltd. following the completion of the issuance. Moody's also affirmed the company's B2 corporate family rating and removed the ratings from provisional status.

The outlook is stable.

The bond proceeds will be used primarily for debt refinancing, future strategic acquisitions and general corporate purposes.

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