Moody's affirms Greentown China

Moody's Investors Service said it affirmed Greentown China Holdings Ltd.'s Ba2 corporate family rating and senior unsecured bond rating in view of the successful closing of its $400 million bond issuance, which was upsized from $375 million.

The outlook is stable.

Although the increased bond size will slightly raise Greentown China's projected leverage and affect its corresponding debt service coverage metrics, Moody's said, it will help improve the company's debt maturity profile and liquidity.

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