Moody’s upgrades Yuzhou to Ba3

Moody's Investors Service said it upgraded Yuzhou Properties Co. Ltd.’s corporate family rating to Ba3 from B1 and revised the outlook to stable from positive.

At the same time, the agency confirmed the B1 senior unsecured rating.

The outlook is stable. This action concludes the review for downgrade on Yuzhou's senior unsecured rating initiated on Oct. 27.

"The upgrade reflects our expectation that Yuzhou's credit metrics will improve over the next 12 to 18 months to levels that are appropriate for its Ba3 CFR," Franco Leung, Moody's vice president, senior credit officer and international lead analyst for Yuzhou, said in a news release.

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