Moody’s rates Landsea Green bond B3

Moody's Investors Service said it assigned a B3 senior unsecured rating to the proposed dollar-denominated bond to be issued by Landsea Green Group Co., Ltd.

The outlook is positive.

Proceeds will be used for refinancing existing debt, funding new development projects, working capital and other general corporate purposes.

"Landsea's proposed bond issuance will improve its debt maturity profile," Moody's assistant vice president and analyst Cedric Lai said in a news release.

The agency said it expects that the new bond will take out some of the debt that will be due for repayment within the next 12 months, and therefore improve the company's debt maturity profile and liquidity position.

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