Moody's assigns Wharf REIC notes A2

Moody's Investors Service said it assigned an A2 rating to the proposed dollar-denominated senior unsecured notes to be issued by Wharf REIC Finance (BVI) Ltd., a wholly-owned financing subsidiary of Wharf Real Estate Investment Co. Ltd., which Moody’s rates A2. The agency bases the rating on the unconditional guarantee of the parent.

Wharf plans to use the proceeds for general corporate purposes.

"Wreic's A2 issuer rating reflects the company's sizable and good-quality assets located in prime commercial locations in Hong Kong, as well as its long operational track record throughout the economic cycles," said Stephanie Lau, a Moody's vice president and senior analyst, in a press release.

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