Moody's assigns A2 to JIC notes

Moody's Investors Service said it assigned A2 senior unsecured ratings to two proposed dollar-denominated senior unsecured notes to be issued by JIC Zhixin Ltd., a wholly-owned subsidiary of China Jianyin Investment Ltd., which will guarantee the notes. Moody’s rates China Jianyin A2.

JIC will use the proceeds for refinancing and general corporate purposes.

“The proposed notes will not materially increase JIC's overall debt level, because part of the proceeds will be used to refinance the company's existing debt,” Moody’s said in a press release.

The outlook is stable.

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