[ET Net News Agency, 19 September 2014] Moody's Investors Service has downgraded to
Caa3 from Caa2 the rating for the US$400 million 8.625% senior unsecured notes due
November 2015 (2015 Notes) issued by Hidili Industry International Development Limited
At the same time, Moody's has downgraded Hidili's corporate family rating to Caa2 from
Caa1. The outlook for all ratings is negative.
The rating action follows Hidili 's announcement on 17 September 2014 that it is
commencing a tender offer and consent solicitation for the 2015 Notes. (KL)
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