Moody's affirms Agile Property

Moody's Investors Service said it affirmed China-based Agile Property Holdings Ltd.'s provisional Ba3 local-currency corporate family rating and foreign-currency senior unsecured bond rating. The outlook is stable.

The affirmation follows the company's decision to increase the size of its upcoming bond issuance to $400 million from $350 million.

The agency said that although the increased debt will slightly raise Agile Property's projected leverage and weaken its corresponding debt service coverage metrics, it will somewhat improve the company's debt maturity profile.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.