Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wharf Real Estate Investment Co. Ltd. > News item |
Moody’s changes Wharf Real Estate view to negative
Moody’s Investors Service said it changed to negative from stable the outlook on Wharf Real Estate Investment Co. Ltd. and Wharf REIC Finance (BVI) Ltd.
“The change in outlook to negative reflects an increase in Wharf REIC’s business risk, given that the company’s core retail assets, which are heavily tourist-dependent, are materially hurt by the coronavirus-induced disruptions and weak economic conditions,” said Stephanie Lau, a Moody’s vice president and senior analyst, in a press release. “The rating action also considers our expectation that its financial leverage will remain elevated over the next 12-18 months, because of lower earnings and a weaker balance sheet.”
Concurrently, Moody’s affirmed the company’s A2 issuer rating, the (P)A2 backed senior unsecured ratings on the medium-term note program of Wharf REIC Finance and the A2 backed senior unsecured ratings on the notes issued under the MTN program, which are guaranteed by Wharf Real Estate Investment.
© 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.