Moody's gives A1 to LEVC Finance bonds

Moody's Investors Service said it assigned a definitive A1 rating to the $400 million 1 3/8% credit enhanced bonds due 2024 issued by LEVC Finance Ltd.

The bonds are supported by an irrevocable standby letter of credit from Bank of China Ltd., Singapore Branch, which has been assigned a long-term counterparty risk assessment of A1(cr).

The issuer is not rated and is a limited liability company incorporated in British Virgin Islands. It is an indirect wholly owned subsidiary of Zhejiang Geely Holding Group Co. Ltd., which is not rated by Moody's.

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