Moody's rates Li & Fung hybrid Baa2

Moody's Investors Service said it assigned a definitive Baa2 rating to the dollar-denominated subordinated perpetual capital securities (the hybrid) to be issued by Li & Fung Ltd.

Li & Fung's A3 issuer rating remains unchanged.

The outlook is stable.

Moody's said the ratings were assigned by evaluating factors that it considers relevant to the credit profile of the issuer, such as the company's: (a) Business risk and competitive position compared with others within the industry; (b) capital structure and financial risk; (c) projected performance over the near to intermediate term; and (d) management's track record and tolerance for risk.

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