Moody's rates Hysan notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to the HK$300 million seven-year senior unsecured fixed-rate notes to be issued by Hysan Ltd. under its $1 billion medium-term note program, and affirmed its Baa1 issuer rating.

The outlook is stable.

The notes will be guaranteed by Hysan Development Co. Ltd. and will be used for general corporate purposes.

The rating reflects Hysan's strong liquidity and funding flexibility, low debt leverage and quality properties investment portfolio, which generates stable rental income, Moody's said.

However, Hysan's strong financial profile is offset by the high geographic concentration of its properties investment portfolio and the near-term redevelopment risk of one of its projects, the agency said.

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