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Moody’s trims Yestar to B1
Moody’s Investors Service said it downgraded the corporate family rating and senior unsecured rating of Yestar Healthcare Holdings Co. Ltd. to B1 from Ba3.
The outlook remains negative.
“The downgrade and negative outlook reflect our expectation that Yestar’s liquidity and operating performance will weaken over the next 12-18 months, leaving it vulnerable to operating environment fluctuations amid its higher funding needs, and positioning it in the B rating category," said Gerwin Ho, a Moody’s vice president and senior credit officer, in a press release.
“We expect its liquidity headroom to narrow due its rising working capital needs, outstanding payments associated with previous acquisitions, and $200 million bond due in September 2021,” added Ho, who is also Moody’s lead analyst for Yestar.
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