Moody’s alters Shenzhen view to stable

Moody’s Investors Service said it changed the outlook to stable from negative for Shenzhen Expressway Corp. Ltd. (SZCL) and left the outlook for Shenzhen International Holdings Ltd. (SZIH) at stable.

"The change in outlook to stable reflects our view that although SZCL's high leverage will weaken the company's standalone credit profile over next three years, the impact on its final rating will be mitigated by our expectation of strong support from its parent companies in times of need," said Ivy Poon, a Moody's vice president and senior credit officer, in a press release.

"On the other hand, we expect SZIH to have adequate financial flexibility to support the increased capital spending within its current standalone credit profile and final rating," added Poon.

Moody’s also affirmed the issuers’ Baa2 ratings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.