Moody’s reviews Yanlord for downgrade

Moody’s Investors Service said it placed on review for downgrade the Ba2 corporate family rating of Yanlord Land Group Ltd. Moody’s also placed on review for downgrade the Ba3 backed senior unsecured rating on the bonds issued by Yanlord Land (HK) Co., Ltd., a wholly owned subsidiary of Yanlord and guaranteed by the parent.

“The review for downgrade reflects our concerns that Yanlord’s credit metrics could significantly weaken following its proposed acquisition of United Engineers Limited (UEL),” said Cedric Lai, a Moody’s vice president and senior analyst, in a press release.

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