Moody's assigns B2 to 21Vianet notes

Moody's Investors Service said it assigned a B2 senior unsecured rating to the planned dollar-denominated bonds to be issued by 21Vianet Group, Inc. The rating is the same as 21Vianet’s corporate family rating.

21Vianet will use the proceeds to repay its debt and for general corporate purposes.

"The proposed issuance, if successful, will improve 21Vianet's liquidity profile and not materially affect its debt leverage level, as the majority of the proceeds will be used to refinance its existing debts," said Shawn Xiong, a Moody's assistant vice president and analyst, in a press release. "At the same time, the remaining proceeds can support its capital spending plan."

The outlook is stable.

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