Moody's changes Yinchuan Tonglian view to negative

Moody's Investors Service said it changed to negative from stable the outlook of Yinchuan Tonglian Capital Investment Operation Co., Ltd.

At the same time, Moody's affirmed Yinchuan Tonglian's Baa3 issuer rating.

“The outlook change to negative reflects our concern that the National Association of Financial Market Institutional Investors' (NAFMII) disciplinary warning to Yinchuan Tonglian indicates weakness in the company's corporate governance and could influence creditors' confidence on Yinchuan Tonglian such that, for example, it affects the company's access to funding,” said Roy Zhang, a Moody's vice president and senior analyst, in a news release.

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