Moody's views China Overseas Land negatively

Moody's Investors Service said it changed the outlook for China Overseas Land & Investment Ltd.'s (COLI) Baa1 issuer rating, and changed the outlooks on COLI and its wholly-owned financing vehicles to negative from stable.

Moody's also affirmed the Baa1 ratings on COLI and its wholly-owned financing vehicles.

"The negative outlook reflects uncertainties over COLI's ability to restore its weakened credit metrics commensurate with its current ratings over the next 12-18 months, amid uncertain recovery prospects for China's property market, as reflected in our negative outlook for the sector," said Kaven Tsang, a Moody's senior vice president, in a press release.

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