Moody’s rates Weifang Urban notes Baa3

Moody's Investors Service said it gave a Baa3 senior unsecured rating to the proposed dollar-denominated bonds to be issued by Weifang Urban Construction and Development Investment Group Co., Ltd. The agency assigned the company a Baa3 rating in July.

Weifang Urban Construction plans to use the proceeds for project investment, replenishment of its working capital and repayment of its offshore indebtedness.

The outlook remains stable.

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