Moody's assigns Anhui bonds A3

Moody's Investors Service said it assigned an A3 backed senior unsecured rating to the planned dollar-denominated bonds to be issued by Anhui Transportation Holding Group (H.K.) Ltd., a wholly-owned subsidiary of Anhui Transportation Holding Group Co., Ltd. The bonds will be guaranteed by the A3-rated parent.

Anhui Transportation plans to use the proceeds primarily to refinance its dollar-denominated bonds.

"The proposed issuance will have a limited impact on Anhui Transportation's total debt and credit metrics because the company will use the proceeds primarily to refinance its debts," said Ralph Ng, a Moody's vice president and senior analyst, in a press release.

"The proposed bonds will also extend the company's maturity profile," added Ng.

The outlook is stable.

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