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Sino-Ocean Land Treasure IV Limited -- Moody's assigns Baa3 rating to Sino-Ocean's proposed notes

"The proposed senior unsecured notes will have no impact on Sino-Ocean Group Holding Limited's credit profile, as the proceeds will be mainly used to refinance existing debt," says Cedric Lai, a Moody's Assistant Vice President. The bond proceeds will also further strengthen Sino-Ocean's currently adequate liquidity. Sino-Ocean's Baa3 issuer rating reflects its standalone credit strength and a two-notch uplift, based on Moody's expectation that the company will receive strong support from China Life Insurance Co Ltd (insurance financial strength A1 stable) -- its largest shareholder -- in the event of financial distress.