Powerlong Real Estate Holdings Limited -- Moody's assigns B2 to Powerlong Real Estate's proposed USD notes

Moody's Investors Service has assigned a B2 rating to Powerlong Real Estate Holdings Limited's (B1 positive) proposed senior unsecured USD notes. "Powerlong's B1 corporate family rating (CFR) reflects its (1) track record of developing and selling commercial and residential properties; (2) growing recurring revenue, which improves the stability of its debt servicing; and (3) expansion into cities with strong economic fundamentals where demand for its properties is more favorable," says Cedric Lai, a Moody's Vice President and Senior Analyst. The proposed issuance will improve Powerlong's liquidity profile and not materially affect its credit metrics, because the company will use the proceeds to refinance existing debt.