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Hysan Development Co., Ltd. -- Moody's assigns A3 rating to Hysan's USD MTN drawdown

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Moody's Investors Service has assigned a A3 rating to the proposed USD backed senior unsecured notes to be issued by Hysan (MTN) Limited, a wholly-owned subsidiary of Hysan Development Company Limited (Hysan, A3 stable), based on the irrevocable and unconditional guarantee of Hysan Development Company Limited. "Hysan's A3 issuer rating reflects the company's stable recurring income and high profitability, underpinned by its high-quality investment properties," says Stephanie Lau, a Moody's Vice President and Senior Analyst. Such risks are partly mitigated by Moody'sassessment of the attractiveness of Causeway Bay to potential lessees as one of Hong Kong's prime shopping districts, as well as the company's long operational track record and good branding.