Moody’s shifts Yuexiu Transport view to negative

Moody’s Investors Service said it changed the outlook to negative from stable for the ratings of Yuexiu Transport Infrastructure Ltd.

Yuexiu plans to acquire three operating expressways in Hubei province for nearly RMB 6 billion.

“The change in outlook to negative reflects our expectation that the announced acquisition will raise Yuexiu Transport’s leverage and weakens the headroom within the Baa2 rating,” said Ivy Poon, a Moody’s vice president and senior analyst, in a press release.

Moody’s affirmed the company’s Baa2 rating.

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