Moody's rates H&H notes B1

Moody's Investors Service said it assigned a B1 senior unsecured rating to the planned dollar-denominated notes to be issued by Health and Happiness (H&H) International Holdings Ltd.

The rating is one notch lower than its corporate family rating because the bond is subordinated to the company's senior secured loan facilities.

H&H will use the proceeds to refinance debt, including the $270 million of notes due in October 2024

"The proposed notes issuance and refinancing transaction, if successful, will improve H&H's liquidity profile and alleviate the refinancing risk on its maturities coming due in the second half of 2024," said Shawn Xiong, a Moody's vice president and senior analyst, in a press release.

The outlook is stable.

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