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Prospect News home > News index > List of issuers B > Headlines for Beijing Energy Investment Holdings Ltd. > News item |
Moody’s rates Beijing Energy bond A3
Moody's Investors Service said it assigned an A3 senior unsecured rating to the proposed euro bond to be issued by Beijing Energy Investment Holding Co., Ltd.'s (BEH, A2 negative) wholly owned subsidiary, Beijing Energy Investment Holdings Ltd., guaranteed by Beijing Energy Investment Holding (Hong Kong) Co., Ltd. (BEHHK, unrated).
The proposed bond will be supported by a Keepwell Deed and a Deed of Equity Interest Purchase and Liquidity Support Undertaking between the Beijing Energy entities and the bond trustee.
The outlook is negative.
Proceeds will be used to refinance certain debt and for general corporate purposes.
Moody’s said the A3 senior unsecured rating of the proposed bond reflects the combination of Beijing Energy A2 issuer rating and the structural features of the proposed bonds.
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