Moody’s ups Yanlord Land, notes to Ba2

Moody's Investors Service said it upgraded Yanlord Land Group Ltd.’s corporate family and senior unsecured debt ratings to Ba2 from Ba3.

The agency also upgraded the senior unsecured rating of the dollar-denominated notes issued by Yanlord Land (HK) Co., Ltd. and irrevocably and unconditionally guaranteed by Yanlord Land Group to Ba2 from Ba3.

The outlook was changed to stable from positive.

"The ratings upgrade reflects our expectation that Yanlord's credit metrics will be stronger and better than those of its Ba3 rated Chinese property peers, as it will continue its track record of prudent financial and liquidity management," Moody's analyst Anthony Lee said in a news release.

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