Moody’s applies B3 to Zhenro notes

Moody's Investors Service said it assigned a B3 rating to Zhenro Properties Group Ltd.’s proposed senior unsecured dollar-denominated notes.

The outlook is stable.

Zhenro plans to use the proceeds mainly to refinance existing debt and for general corporate purposes.

"The proposed bond issuance will support Zhenro's liquidity profile and not materially affect its credit metrics, as it will use the proceeds mainly to refinance existing debt," Moody's assistant vice president and analyst Cedric Lai said in a news release.

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