Moody's assigns Ba3 rating to Howard Hughes' proposed $1,300 million senior unsecured notes
Rating Action: Moody's assigns Ba3 rating to Howard Hughes' proposed $1,300 million senior unsecured notes. Global Credit Research- 19 Jan 2021. New York, January 19, 2021-- Moody's Investors Service assigned a Ba3 rating to The Howard Hughes Corporation's proposed $1,300 million senior unsecured notes due 2029 and 2031. The split in maturities will be determined at the closing of the transaction.Howard Hughes, together with its subsidiaries, operates in three business segments: Operating Assets, Master Planned Communities (MPCs) and Strategic Developments. The company's Operating Assets segment includes its investments in joint ventures and other assets, consisting of retail, office, multi-family, hospitality properties and other operating assets and investments. The company's MPC segment includes the development and sale of residential and commercial land, primarily in large-scale, long-term projects. The company's Strategic Developments segment consists of development or redevelopment projects.
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