Moody’s changes Zhongyuan Asset view to negative

Moody’s Investor Service said it revised the outlook for Zhongyuan Asset Management Co. Ltd. to negative from stable.

“The change in outlook to negative from stable reflects the downward pressure on Zhongyuan AMC’s b1 baseline credit assessment (BCA) resulting from the erosion of its weak capital base by the fair value losses on its stock investments,” said Moody’s in a press release.

Moody’s affirmed Zhongyuan’s Baa3 issuer rating.

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