Moody’s ups Golden Eagle Retail

Moody's Investors Service said it upgraded Golden Eagle Retail Group Ltd.'s corporate family rating to Ba3 from B1 and its senior unsecured debt ratings to B1 from B2.

The outlook is positive.

"The upgrade of Golden Eagle's ratings and positive ratings outlook reflect our expectation that the company will continue to improve its credit profile because of a stabilized retail environment, supported by its continued revenue growth, stable profitability and deleveraging," Danny Chan, Moody's analyst, said in a news release.

"The change in ratings and outlook also consider the significantly reduced refinancing risk and improvement in the company's debt maturity profile, following the successful refinancing of the RMB 4.9 billion offshore syndicated loan due April 2018.”

© 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.