Moody's: No change for Agile Property

Moody's Investors Service said that Agile Property Holdings Ltd.'s Ba3 corporate family and senior unsecured debt ratings - and their positive outlook - are unaffected by news that it will pay Aetos Capital Asia about $203 million to settle a dispute between the two parties.

The amount breaks down into the refund of an initial deposit of $164 million and a settlement fee of $39 million.

The payout for the settlement is largely in line with expectations and had already been factored into Agile's Ba3 ratings and positive outlook, the agency said.

Settlement of the dispute should enable Agile to accelerate the development of the remaining phases of its Egret Lake Huizhou project, Moody's added.

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