Moody’s assigns Hilong notes B2

Moody’s Investors Service said it assigned a B2 rating to the proposed dollar-denominated senior secured notes to be issued by Hilong Holding Ltd.

Hilong will use the proceeds to refinance debt, working capital and for general corporate purposes.

“The proposed notes will have no impact on Hilong’s rating or outlook, as it will mainly use the proceeds to refinance its outstanding $165 million senior notes maturing June 22, 2020 (2020 notes),” said Chenyi Lu, a Moody’s vice president and senior credit officer, in a press release.

The outlook is negative.

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