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Moody’s: Evergrande outlook to negative
Moody's Investors Service said it changed the outlook on Evergrande Real Estate Group Ltd.’s B1 corporate family and B2 senior unsecured ratings to negative from stable.
At the same time, the agency affirmed Evergrande's B1 corporate family and B2 senior unsecured ratings.
"The change in outlook to negative from stable reflects our concerns over Evergrande's increased refinancing risk amid more challenging market conditions, as well as its investment in non-property businesses," Moody's vice president and senior analyst Franco Leung said in a news release.
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