Moody's: Parkson unchanged

Moody's Investors Service said it sees no immediate rating impact on Parkson Retail Group Ltd.'s Ba1 corporate family rating as a result of its acquisition of a retail property in Tianjin, China.

The outlook is stable.

This acquisition is in line with Parkson's growth strategy to increase its number of department stores in China, said Ken Chan, a Moody's analyst.

Parkson, with estimated current cash on hand of more than RMB 5 billion, has enough liquidity to internally fund this acquisition, the agency said.

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