Moody's cuts Yestar

Moody's Investors Service said it downgraded the corporate family rating and senior unsecured rating of Yestar Healthcare Holdings Co. Ltd. to Caa1 from B3.

"The downgrade to Caa1 and negative outlook reflect Yestar's higher probability of default given its increased liquidity risk, with a $200 million bond due in September 2021," said Gerwin Ho, a Moody's vice president and senior credit officer, in a press release.

Yestar disclosed there are questions on whether it can continue as a going concern in its 2020 results reported on April 7. The company also hired a financial advisor concerning the senior notes due in September, Moody’s noted.

The outlook remains negative.

© 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.