Moody’s rates Anhui Transportation notes Baa1

Moody's Investors Service said it assigned a Baa1 senior unsecured rating to the proposed senior dollar-denominated notes to be issued by Anhui Transportation Holding Group (H.K.) Ltd.

The notes will be unconditionally and irrevocably guaranteed by Anhui Transportation Holding Group Co., Ltd. (Baa1).

The outlook is stable.

The proceeds from the proposed notes will be used for refinancing of existing debt and general corporate purposes.

"The proposed issuance will support Anhui Transportation's liquidity profile and lengthen its debt maturity profile without materially affecting its credit metrics, as part of the proceeds will be used to refinance existing debt and to support capital expenditure for its toll road operations," Boris Kan, Moody's vice president and senior credit officer, said in a news release.

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