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Moody’s gives Kaisa Group notes B2
Moody’s Investors Service said it assigned a B2 senior unsecured rating to the proposed dollar notes to be issued by Kaisa Group Holdings Ltd. (B1).
The outlook is stable.
Kaisa plans to use the proceeds of the notes to refinance the existing medium- to long-term offshore debt which will become due within one year.
“The proposed bond issuance will lengthen Kaisa's debt maturity profile and will not have a material impact on its credit metrics, because the proceeds will be used mainly to refinance existing debt,” Danny Chan, Moody's assistant vice president and analyst, said in a news release.
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