Moody's moves Wisdom Education view to negative

Moody's Investors Service said it affirmed Wisdom Education International Holdings Co. Ltd.'s Ba3 corporate family rating but revised the outlook to negative from stable.

On May 14, the China State Council announced, "the Implementing Regulations of the Private Education Promotion Law." The regulations take effect Sept. 1.

"The outlook change to negative reflects the uncertainty related to the regulatory change and implementation, which could adversely affect Wisdom's business expansion and financial performance," said Shawn Xiong, a Moody's assistant vice president and analyst, in a press release.

The agency said it will closely monitor the developments, which will determine the impact on the company.

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