Moody’s rates China Huarong notes Baa1(hyb)

Moody's Investors Service said it assigned a Baa1(hyb) senior unsecured debt rating to Huarong Finance 2017 Co., Ltd.'s unsubordinated guaranteed perpetual securities drawdown under its medium-term note program.

Huarong Finance 2017 is an indirect subsidiary of China Huarong Asset Management Co., Ltd.

The outlook is stable.

The Baa1(hyb) rating reflects Huarong China Huarong's ability and very high willingness to support Huarong Finance 2017's obligations, Moody’s said.

Moody's said it believes that a failure by China Huarong to support Huarong Finance 2017's securities would result in significant reputational risk and would negatively affect the former's ability to access the onshore and offshore bond and bank loan markets.

The securities are ranked pari passu with all other present and future unconditional, unsubordinated and unsecured obligations of the issuer and guarantor, the agency said.

© 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.