Moody's: Glorious Property unaffected

Moody's Investors Service said that Glorious Property Holdings Ltd.'s B3 corporate family rating and Caa1 senior unsecured debt rating of its dollar-denominated notes will not be affected by its 2012 first half results.

The outlook remains negative.

Glorious' 2012 first half weak results have been factored in its B3 rating and negative outlook.

"The current ratings and outlook continue to reflect Moody's concern over Glorious' weak management of its debt maturities," Moody's assistant vice president and analyst Franco Leung said in a news release.

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