Moody’s: Ronshine China view to negative

Moody's Investors Service said it revised the outlook on Ronshine China Holdings Ltd.’s B2 corporate family rating and B3 senior unsecured rating to negative from stable and affirmed the ratings.

"The change in outlook to negative reflects our concern over Ronshine's increased level of refinancing risk, stemming from its escalating short-term debt and declining cash balances, as well as higher financing risk because of higher-than-expected debt leverage,” Moody's analyst Anthony Lee said in a news release.

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