Moody's rates Azure notes A3

Moody's Investors Service said it assigned a provisional A3 rating to the $500 million of 10-year bonds to be issued by Azure Orbit International Finance Ltd. The issuer is a subsidiary of JY Aviation Leasing Ireland Co. Ltd., a wholly owned subsidiary of Bank of Communications Co. Ltd.

The outlook is stable.

The agency said the A3 rating is the same as Bank of Communications' long-term deposit rating as the bonds will be fully supported by an unconditional and irrevocable guarantee from the Bank of Communications, Hong Kong Branch.

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