Moody's: Parkson’s outlook now negative

Moody's Investors Service said it changed to negative from stable the outlook for Parkson Retail Group Ltd.’s Ba3 corporate family and senior unsecured debt ratings.

Moody's also affirmed Parkson’s Ba3 corporate family and senior unsecured debt ratings.

“The outlook change reflects Parkson's weaker-than-expected financial results for 3Q 2015 and our expectation that its profitability and financial leverage will likely remain weak for its Ba3 ratings over the next 12-18 months, given the ongoing challenges apparent in China's retail market,” said Lina Choi, a Moody's vice president and senior credit officer, in a news release.

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