Moody’s revises Dr. Peng to negative

Moody's Investors Service said it changed the outlook on Dr. Peng Telecom & Media Group Co., Ltd. to negative from stable and affirmed its Ba2 corporate family rating.

At the same time, the agency changed the outlook on Dr. Peng Holding Hongkong Ltd. rating to negative from stable and affirmed its Ba2 senior unsecured rating.

"The change in Dr. Peng's rating outlook reflects our concern over the weakened operating performance of its core broadband business amid intense competition and an ongoing need to invest in network upgrades and acquisitions, which in turn will weigh on its cash flow generation," Danny Chan, Moody's analyst and lead analyst for Dr. Peng, said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.