Moody’s reviews Yingde Gases

Moody's Investors Service said it has placed Yingde Gases Group Co. Ltd.’s Ba2 corporate family rating and the Ba3 senior unsecured rating on the bonds issued by Yingde Gases Investment Ltd. and guaranteed by Yingde Gases on review for downgrade.

The review follows the company's announced share repurchase program and its indication of litigation against one of its major customers for overdue receivables.

"The rating actions primarily reflect an expected deterioration in Yingde Gases' overall financial profile, given the dispute with one of its key customers and its announced share repurchase," Moody's vice president and senior analyst Gerwin Ho said in a news release.

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