Moody's rates Shandong Hi-speed bond A3

Moody’s Investors Service said it gave an A3 rating to the planned dollar-denominated bonds to be guaranteed by Shandong Hi-Speed Group Co., Ltd. (SDHG). SDHG’s subsidiary THI Capital Co. Ltd. will sell the bonds.

“The A3 bond rating reflects the unconditional and irrevocable guarantee from SDHG, which represents an unsecured, unsubordinated obligation of SDHG. Therefore, the senior unsecured bond rating is the same as SDHG's A3 issuer rating,” Moody’s said in a press release.

THI will use the proceeds to replenish working capital.

The outlook is stable.

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