Moody’s upgrades Powerlong, debt

Moody's Investors Service said it upgraded Powerlong Real Estate Holdings Ltd.’s corporate family rating to B1 from B2 and its senior unsecured ratings to B2 from B3.

The outlook is stable.

"The ratings upgrade reflects our expectation that the company's growth in scale, as well as the improvement in its liquidity position and debt-service ability, as measured by EBIT/interest coverage and rental revenue/interest, will be sustained over the next 12 to 18 months," Moody's analyst Anthony Lee said in a news release.

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