Moody's assigns Jinan Energy bond Baa1

Moody's Ratings said it assigned a Baa1 senior unsecured rating to the proposed bond to be issued by Jinan Energy Group Co., Ltd.’s wholly owned subsidiary Guoneng Environmental Protection Investment Group Co., Ltd.

“The Baa1 rating on the senior unsecured bonds reflects the unconditional and irrevocable guarantee from Jinan Energy and that the bonds will rank at all times at least equally with its other present and future unsecured and unsubordinated obligations,” Moody’s said in a press release.

Jinan will use the proceeds to finance and/or refinance eligible projects under its green finance framework.

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