Moody’s rates Kaisa notes B2

Moody’s Investors Service said it assigned a B2 senior unsecured rating to the proposed dollar-denominated notes to be offered by Kaisa Group Holdings Ltd.

Proceeds will be used to refinance medium- to long-term debt due within a year.

“The proposed bond issuance will support Kaisa’s liquidity and lengthen its debt maturity profile. The issuance will also not materially affect its credit metrics, because the company will use the majority of the proceeds to refinance existing debt,” said Danny Chan, a Moody’s assistant vice president and analyst, in a press release.

The outlook is stable.

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