Moody’s changes Citic view

Moody's Investors Service said it affirmed the Ba2 corporate family rating of Citic Resources Holdings Ltd.

At the same time, Moody's changed the outlook to negative from stable.

“The negative outlook reflects our expectation that Citic Resources' EBITDA and cash flow will take a hit from the low oil and commodity prices over the next 12 months, in turn weakening its credit metrics,” Chenyi Lu, Moody's vice president, senior credit officer and international lead analyst for Citic, said in a news release.

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