Moody’s changes Parkson Retail to stable

Moody's Investors Service said it changed the outlook on Parkson Retail Group Ltd.’s B3 corporate family and senior unsecured ratings to stable from negative and affirmed the ratings.

"We have changed the outlook on Parkson's ratings to stable to reflect the company's reduced refinancing risk, following the repurchase of about half of its USD500 million notes due May 2018, through a cash tender offer," Moody's analyst Danny Chan said in a news release.

"The change in the ratings outlook is also because of its stabilizing operating performance in 2017, despite the persistent structural challenges in China's retail market."

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