Moody’s: Evergrande outlook to negative

Moody's Investors Service said it changed the outlook on Evergrande Real Estate Group Ltd.’s B1 corporate family and B2 senior unsecured ratings to negative from stable.

At the same time, the agency affirmed Evergrande's B1 corporate family and B2 senior unsecured ratings.

"The change in outlook to negative from stable reflects our concerns over Evergrande's increased refinancing risk amid more challenging market conditions, as well as its investment in non-property businesses," Moody's vice president and senior analyst Franco Leung said in a news release.

© 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.