Moody’s rates Bluestar securities Baa3

Moody’s Investors Service said it gave a Baa3 rating to Bluestar Finance Holdings Ltd.’s planned offering of subordinated perpetual securities. The offering will be a draw down from Bluestar’s program. The securities will be guaranteed by China National Bluestar (Group) Co., Ltd., rated Baa2 by the agency.

The securities are rated a notch under Bluestar’s senior unsecured rating, reflecting that the securities will be subordinated to its senior obligations, the agency said.

The proceeds will be used for refinancing and general corporate purposes.

The outlook is stable.

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