Moody’s cuts Modern Land debt

Moody's Investors Service said it downgraded Modern Land (China) Co., Ltd.'s senior unsecured rating to B3 from B2.

The outlook is stable.

The action concludes the review initiated on Oct. 27 following Moody's publication of its updated methodology.

The agency said the action reflects Moody's view that the company's senior unsecured bond rating is lower than its corporate family rating by one notch because of the risk of structural and legal subordination.

© 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.