Moody's rates Sinochem HK notes A3

Moody's Investors Service said it assigned an A3 rating to Sinochem Hong Kong (Group) Co. Ltd.'s (Sinochem HK) proposed yuan-denominated notes to be issued under its medium-term notes program.

The outlook is stable.

Proceeds will be used for general corporate purposes.

On April 22, the agency assigned a provisional A3 rating to the medium-term notes program of Sinochem Offshore Capital Co. Ltd. and guaranteed by Sinochem HK.

"The drawdown will further enhance Sinochem HK's liquidity, and strengthen its financing channels in the offshore market," Joe Morrison, Moody's vice president, senior analyst and international lead analyst for Sinochem HK, said in a news release.

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