Moody’s lowers Meinian Onehealth

Moody’s Investors Service said it downgraded Meinian Onehealth Healthcare Holdings Co., Ltd.’s corporate family rating to B2 from B1. Simultaneously, Moody’s trimmed to B2 from B1 the senior unsecured rating on the bonds issued by Mei Nian Investment Ltd. and guaranteed by Meinian Onehealth.

“The downgrade reflects weakness in the company’s financial management, which results in its weak liquidity profile, in part due to its reliance on short-term funding, and limited progress on its refinancing plan for its upcoming debt maturities, leaving its credit profile vulnerable to volatility in the operating environment and funding market,” said Shawn Xiong, a Moody’s assistant vice president and analyst, in a press release.

The outlook remains negative.

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