Moody’s rates Tianjin Eco-City bonds A1

Moody’s Investors Service said it assigned a provisional A1 rating to the credit-enhanced bonds to be issued by Tianjin Eco-City Investment and Development Co., Ltd.

The bonds will be supported by an irrevocable and standby letter of credit from Bank of China Ltd., Singapore Branch.

The counterparty risk assessment assigned to the bank is A1 (cr).

The bond rating addresses the expected loss posed to investors by the legal final maturity, Moody’s said.

The issuer, Tianjin Eco-City Investment and Development, is a limited liability company indirectly owned by Ministry of Finance of the People’s Republic of China, the agency said.

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