Moody’s rates Rongshi notes A2

Moody’s Investors Service said it gave an A2 senior unsecured rating to the proposed notes to be drawn down under Rongshi International Finance Ltd.’s $3 billion medium-term note program and guaranteed by the A2 rated State Development & Investment Corp., Ltd.

The proceeds will be used for refinancing, overseas project construction and general corporate purposes.

“The proposed notes will not materially increase SDIC’s overall debt level because the proceeds will largely be used for refinancing,” says Chenyi Lu, a Moody’s vice president and senior credit officer, and also lead analyst for SDIC.

The outlook is stable.

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