Moody’s rates Hilong notes B1, ratings on review for upgrade

Moody’s Investors Service said it assigned a B1 rating to Hilong Holding Ltd.’s proposed senior unsecured notes.

Proceeds will be used to refinance debt, for working capital and for general corporate purposes.

The agency also placed on review for upgrade Hilong’s B1 corporate family and senior unsecured ratings.

“The review for upgrade mainly reflects the company’s strengthened business profile, and the improvement in its debt leverage for the 12 months ended June 2019 to a level that exceeds our earlier expectations,” said Chenyi Lu, a Moody’s vice president and senior credit officer, in a news release.

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