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Champion Sincerity Holdings Limited -- Moody's assigns Ba3 to Greentown's USD perpetual notes

The new USD senior perpetual capital securities will be supported by a Keepwell Deed and a Deed of Equity Interest Purchase, Investment and Liquidity Support Undertaking provided by Greentown's major shareholder, China Communications Construction Group (Limited) (CCCG, unrated). The company plans to use the proceeds of the new USD notes issuance for refinancing existing indebtedness and for general working capital purpose.