Moody’s cuts Sunac China to negative

Moody's Investors Service said it changed the outlook on Sunac China Holdings Ltd.’s B1 corporate family rating and the B2 senior unsecured debt ratings on its $500 million notes due 2018 and $400 million notes due 2019 to negative from stable.

At the same time, the agency affirmed the ratings.

"The change in the rating outlook to negative reflects our expectation that Sunac's profit margins and credit metrics will remain weak over the next 12-18 months," Moody's vice president and senior credit officer Franco Leung said in a news release.

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