Moody’s assigns Guangxi Financial bond Baa2

Moody’s Investors Service said it gave Guangxi Financial Investment Group Co., Ltd.’s a Baa2 backed senior unsecured rating to its proposed dollar-denominated bond, which is guaranteed by Guangxi Investment Group Co. Ltd., which Moody’s rates Baa2.

Guangxi Financial plans to use the proceeds to refinance offshore debt.

Moody’s also confirmed the company’s Ba1 corporate family and senior unsecured ratings. The agency also revised Guangxi Financial’s outlook to stable from under review, which concludes the review started on April 8. The outlook reflects the expectation the company’s stand-alone credit profile will remain stable in the next 12-18 months and that Guangxi Financial will remain strategically and financially important to its parent and the Guangxi government.

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