Moody's: Vinacomin negative

Moody's Investors Service said it changed the outlook for Vietnam National Coal Minerals Industries Holding Corp. Ltd. (Vinacomin) to negative from stable.

Moody's also affirmed the company's B2 corporate family rating.

"The negative outlook reflects Vinacomin's high level of debt-funded capex and the high domestic interest rate environment, which is expected to weaken its EBIT/interest expense to below 2x over the next 12-18 months, thereby exerting pressure on Vinacomin's liquidity," Moody's vice president and senior analyst Simon Wong said in a news release.

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