S&P lowers Maoye

S&P said it lowered its rating for Maoye International Holdings Ltd. to B- from B, citing the company’s worsening liquidity.

“We lowered the rating to reflect Maoye International Holdings Ltd.'s (Maoye) thinning liquidity buffer, a situation exacerbated by a high volume of looming short-term debt maturities. The downgrade also reflects the increased uncertainties around the company's operating cash flow generation in the next 12 months amid the Covid-19 outbreak,” said S&P in a press release.

The outlook is stable.

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