Moody’s gives Kunming Rail notes Baa1

Moody’s Investors Service said it gave a Baa1 rating to Kunming Rail Transit Group Co. Ltd.’s planned dollar-denominated senior unsecured notes.

The agency affirmed the issuer’s Baa1 senior unsecured rating on Sept. 27.

Kunming Rail will use the proceeds for refinancing under China's National Development and Reform Commission and green finance framework.

The outlook is negative.

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