Moody's: Citic Pacific view to stable

Moody's Investors Service said it changed the outlook on the Ba1 corporate family rating of Citic Pacific Ltd. and the Ba1 bond rating of Citic Pacific Finance (2001) Ltd. to stable from negative.

The change in outlook reflects the opinion that the company's operational and financial profiles have stabilized, Moody's said. The appointment of senior management from Citic Group seems to have helped the company better focus on its priorities, the agency added.

The company's leverage is still high but further deterioration is unlikely, Moody's added.

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