Moody’s assigns Sinochem securities Baa2

Moody’s Investors Service said it assigned a Baa2 rating to the proposed dollar-denominated subordinated perpetual securities to be issued by Halcyon Agri Corp. Ltd. and guaranteed by Sinochem International Corp., which Moody’s rates Baa1, on a subordinated basis.

“The Baa2 rating on the proposed subordinated perpetual securities is one notch lower than Sinochem International’s senior unsecured rating, reflecting the subordinated status of the securities,” Moody’s said in a press release.

The proceeds will be used for general corporate purposes and to refinance debt.

The outlook is stable.

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