Moody's alters Jingrui view to negative

Moody's Investors Service said it changed the outlook on Jingrui Holdings Ltd. to negative from stable and affirmed the B2 corporate family rating and the B3 senior unsecured rating on the bonds issued by Jingrui.

"The change in outlook to negative reflects our expectation that Jingrui's contracted sales will fall over the next six to 12 months because of weaker consumer sentiment, which in turn will lead to a deterioration in the company's financial metrics and liquidity," said Cedric Lai, a Moody's vice president and senior analyst, in a press release.

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