Moody's rates Glorious notes Caa1

Moody's Investors Service said it assigned a Caa1 rating to Glorious Property Holdings Ltd.'s proposed issuance of dollar-denominated senior unsecured notes.

At the same time, Moody's affirmed Glorious' B3 corporate family rating and Caa1 senior unsecured debt rating.

The outlook is negative.

"The proposed issuance of USD notes will improve Glorious' liquidity and debt maturity profile," Moody's assistant vice president and analyst Franco Leung said in a news release.

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