Moody’s assigns Hydoo CFR B2, notes B3

Moody's Investors Service said it assigned a B2 corporate family rating to Hydoo International Holding Ltd. and a provisional B3 senior unsecured rating to its proposed dollar-denominated notes.

The outlook is stable.

The company plans to use the proceeds for land acquisitions and project development, debt repayment and other general corporate purposes.

Moody's will remove the provisional status of the notes after they are issued on satisfactory terms and conditions.

"Hydoo's B2 corporate family rating reflects the company's track record of developing trade centers in low-tier Chinese cities," Moody's vice president and senior credit officer Kaven Tsang said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.