Moody’s changes PowerChina view to stable

Moody’s Investors Service said it changed the outlook to stable from negative and affirmed the Baa1 issuer rating of Power Construction Corp. of China.

“The change in outlook to stable from negative reflects PowerChina’s stronger-than-expected business performance in H1 2020 amid the coronavirus outbreak and our expectation that the company will contain its debt growth and achieve moderate deleveraging in the next two years through increased earnings and potential asset disposals,” said Chenyi Lu, a Moody’s vice president and senior credit officer, in a press release.

Moody’s affirmed the Baa1 senior unsecured ratings on the notes issued by Dianjian International Finance Ltd., Leader Goal International Ltd., Sepco Virgin Ltd., and DianJian Haiyu Ltd. Finally, Moody’s affirmed the Baa1 rating of the senior unsecured notes issued by Powerchina Real Estate Group Ltd. and guaranteed by PowerChina.

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