Moody's gives A2 to CK Hutchison notes

Moody's Ratings said it assigned an A2 backed senior unsecured rating to the proposed U.S. dollar-denominated notes to be issued by CK Hutchison International (24) Ltd. The notes will be irrevocably and unconditionally guaranteed by CK Hutchison Holdings Ltd. (CKHH; A2 stable).

The outlook is stable.

CKHH will use the bond proceeds to refinance its existing debt and to finance investments in accordance with its sustainable finance framework.

“CKHH's A2 issuer rating mainly reflects the company's strong business position, diversified operations, balanced portfolio and excellent liquidity,” said Gloria Tsuen, a Moody’s vice president and senior credit officer, in a news release.

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