Moody's: Hutchison securities Baa2

Moody's Investors Service said it assigned a Baa2 rating to the dollar-denominated subordinated guaranteed perpetual capital securities to be issued by Hutchison Whampoa International (12) Ltd. and irrevocably and unconditionally guaranteed by Hutchison Whampoa Ltd.

Moody's also affirmed Hutchison Whampoa's A3 issuer rating.

The outlook is negative.

"Moody's anticipates that the proceeds of the hybrid will be used primarily for the refinancing of existing debt falling due in 2012, which will serve to term out the debt maturity profile and is credit positive for Hutchison Whampoa's overall credit profile," Moody's vice president and senior credit officer Laura Acres said in a news release.

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