In the Chinese property space, Yuexiu Real Estate Investment Trust ( REIT ) hired Bank of China, DBS, HSBC and Morgan Stanley to arrange fixed-income investor meetings in Singapore, Hong Kong and London. Yuexiu has set up USD 1 billion medium-term note ( MTN ) program and plans to issue USD-denominated senior notes under this program. Moody's has assigned its Baa2 rating to the proposed issuance while S&P has assigned its BBB rating. The rating outlook by both the rating agencies is stable.