Moody's turns CMB International view to positive

Moody's Investors Service said it affirmed CMB International Capital Corp. Ltd.'s Baa1 long-term issuer rating and changed the company's outlook to positive from stable.

The agency also affirmed Legend Fortune Ltd.'s (P)Baa1/(P)P-2 backed senior unsecured medium-term note program ratings and Baa1 backed senior unsecured rating, and changed its entity-level outlook to positive from stable. The MTN program and senior unsecured notes are guaranteed by CMBI, which wholly owns Legend Fortune.

The affirmation and outlook revision follow Moody’s similar actions on CMBI’s parent, China Merchants Bank Co., Ltd., the agency said.

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