Moody’s changes Greentown China view

Moody's Investors Service said it revised to positive from stable the outlooks on Greentown China Holdings Ltd., Apex Top Group Ltd. and Wisdom Glory Group Ltd.

The agency also affirmed Greentown's Ba3 corporate family rating, the Ba3 backed senior unsecured rating on the dollar-denominated senior notes issued by Greentown, the Ba3 backed senior unsecured rating on the senior perpetual capital securities issued by Apex and guaranteed by Greentown, and the Ba3 backed senior unsecured rating on the senior perpetual capital securities issued by Wisdom Glory and guaranteed by Greentown.

"The positive rating outlook reflects our expectation that Greentown will sustain the improvement in its debt leverage over the next 12-18 months," Celine Yang, Moody's assistant vice president and analyst, said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.