Moody’s downgrades Yanlord notes

Moody's Investors Service said it downgraded Yanlord Land (HK) Co., Ltd.'s backed senior unsecured rating to Ba3 from Ba2.

The outlook is stable.

The action concludes the review initiated on Oct. 27 following Moody's publication of its updated methodology.

Moody’s said the rating reflects a view that Yanlord Land's bond rating is lower than Yanlord Land Group Ltd.'s (Ba2, stable) corporate family rating by one notch because of the risk of structural and legal subordination.

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