Moody's rates Triceratops bonds A1

Moody's Investors Service said it assigned a provisional A1 rating to the credit enhanced bonds to be issued by Triceratops Capital Co., Ltd.

The bonds will be supported by an irrevocable standby letter of credit from Industrial and Commercial Bank of China Ltd., Shanghai branch, Moody's said.

Moody's said the rating addresses only the credit risks associated with the transaction.

Other non-credit risks have not been addressed, but may have a significant effect on yield to investors, the agency said.

The provisional A1 rating of the bonds is based on the bank's counterparty risk assessment, Moody's said.

The issuer is a wholly owned subsidiary of Jinjiang International Holding Co, Ltd., the agency said.

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