Moody’s upgrades Yuzhou debt to B1

Moody's Investors Service said it upgraded Yuzhou Properties Co. Ltd.’s senior unsecured debt rating to B1 from B2.

The company's B1 corporate family rating was affirmed and the outlook is stable.

"The senior unsecured rating upgrade reflects Yuzhou's track record of raising offshore funding and our expectation that it can keep priority debt, mainly comprising domestic bank borrowings, around 15%-16% of total consolidated assets in the next 12-18 months," Moody's vice president and senior analyst Lina Choi said in a news release.

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