Moody’s assigns Ba2 rating to Fosun notes

Moody’s Investors Service said it assigned a Ba2 senior unsecured rating to the eurodollar notes to be issued by Fortune Star (BVI) Ltd., and unconditionally and irrevocably guaranteed by Fosun International Ltd.

“The proposed notes will not materially affect Fosun’s financial profile,” said Lina Choi, a Moody’s senior vice president and Moody’s international lead analyst for Fosun, in a press release.

Proceeds will be used to refinance debt, for working capital and for general corporate purposes.

The outlook is stable.

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