Moody's lifts China Minzhong CFR

Moody's Investors Service said it upgraded China Minzhong Food Corp.'s corporate family rating to Ba2 from Ba3.

The outlook is stable.

"The upgrade reflects Moody's expectation that China Minzhong's operations can now benefit from the support from and integration with its operationally and financially strong parent, PT Indofood (unrated). The latter holds 82.88% after concluding a general takeover in December 2013," Moody's vice president and senior analyst Lina Choi said in a news release.

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