Moody’s rates New Lion Bridge notes B2

Moody's Investors Service said it assigned a B2 long-term senior unsecured rating to the dollar-denominated notes to be issued by New Lion Bridge Co., Ltd. and to be guaranteed by Lionbridge Capital Co., Ltd. (B1, stable).

The outlook is stable.

New Lion Bridge was incorporated under the laws of the British Virgin Islands on June 27. It is a fully owned subsidiary of Lionbridge Capital.

Moody’s said the B2 rating for New Lion Bridge's guaranteed senior notes takes into account the unconditional and irrevocable guarantee from Lionbridge Capital. The guarantee will rank at least pari passu with Lionbridge Capital's all other unsecured and unsubordinated debt.

Proceeds will be used to repay and/or refinance Lionbridge Capital's existing debt and to supplement its working capital as well as for other general corporate purposes.

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