Moody’s extends review of Coastal Emerald

Moody's Investors Service said it extended its review for downgrade of Coastal Emerald Ltd.’s Baa2 and (P)Baa2/(P)P-3 ratings.

In the meantime, Moody's affirmed the A3 and (P)A3/(P)P-2 ratings on the backed senior unsecured debt and medium-term note program guaranteed by Shandong Hi-speed Group Co., Ltd. (A3 stable).

Coastal Emerald is an indirectly wholly owned subsidiary of China Shandong Hi-speed Financial Group Ltd. (SHFG), which was in turn 43.42% owned by SDHG as of June 30, 2021.

The review extension follows SHFG's announcement that the company had agreed to subscribe to new shares to be issued by Beijing Enterprises Clean Energy Group Ltd. (BECE). Upon the completion of the transaction, SHFG will become the controlling shareholder of BECE, owning 43.45% shares.

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