Moody’s revises Shenzhen International to positive

Moody's Investors Service said it revised its outlook on Shenzhen International Holdings Ltd.’s Baa3 ratings to positive from stable.

At the same time, the agency affirmed the Baa3 issuer and senior unsecured ratings.

"The change in outlook to positive reflects SZIH's strengthened credit profile, underpinned by a steady improvement in the performance of its toll road assets," Moody's assistant vice president and analyst Ivy Poon said in a news release.

"The improvement in the toll roads' underlying performance, which we expect to continue over the next 12-18 months, is assisting SZIH's efforts to gradually deleverage its balance sheet. As such, we expect its credit metrics to exceed the upper guidance level set for the rating, despite the company's active capital expenditure program."

© 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.