Moody's rates Hainan Airlines bonds A1

Moody's Investors Service said it assigned a provisional A1 rating to the dollar-denominated credit enhanced bonds to be issued by Hainan Airlines (Hong Kong) Co., Ltd. and supported by an irrevocable and unconditional standby letter of credit from the Bank of China Ltd., acting through its Hainan branch.

Moody's said the provisional A1 rating of the bonds is the same as the Bank of China's senior unsecured debt rating as the bonds are fully supported by an irrevocable and unconditional Renminbi-denominated standby letter of credit provided by Bank of China through its Hainan Branch.

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