Moody’s gives Mong Duong notes Ba3

Moody’s Investors Service said it assigned a provisional Ba3 rating to the proposed senior secured dollar notes due 2029 of Mong Duong Finance Holdings BV.

The outlook is stable.

Mong Duong Finance is a finance entity created by the shareholders of AES-VCM Mong Duong Power Co. Ltd.

In tandem with the notes, Mong Duong Finance will also raise a four-year amortizing bank loan facility.

“The holders of the USD notes will be supported by several structural features which establish a close linkage between the credit profiles of MDP and Mong Duong Finance,” the agency said in a news release.

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