Moody's rates Yanzhou Coal notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to the proposed dollar-denominated senior unsecured notes to be issued by Yancoal International Resources Development Co., Ltd. and guaranteed by Yanzhou Coal Mining Co. Ltd.

“The Ba1 rating on the proposed notes reflects the irrevocable and unconditional guarantee from Yanzhou Coal and the fact that the notes will rank pari passu with Yanzhou Coal's other senior unsecured obligations,” Moody’s said in a press release.

Yanzhou Coal plans to use the proceeds for general corporate and refinancing purposes.

The outlook is stable.

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