Moody’s assigns Nan Fung securities Baa3

Moody’s Investors Service said it assigned a Baa3 senior unsecured rating to the proposed senior perpetual securities to be issued by Nan Fung Treasury (III) Ltd., a wholly owned subsidiary of Nan Fung International Holdings Ltd., which will guarantee the securities.

The Baa3 rating on the proposed securities reflects that the securities will rank pari passu with all of Nan Fung International’s other unsubordinated and unsecured obligations, Moody’s said.

Nan Fung International will use the proceeds for refinancing outstanding perpetual securities.

The outlook remains stable.

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