Moody’s ups Future Land Development to Ba2

Moody's Investors Service said it upgraded Future Land Development Holdings Ltd.’s corporate family rating to Ba2 from Ba3 and changed the outlook to stable from positive.

"The upgrade of Future Land Development's rating reflects the upgrade today of Future Land Holdings Co., Ltd (Future Land Holdings, Ba2 stable), its 67.1%-owned Mainland subsidiary who accounts for most of its operations and financial profile," Moody's vice president and senior credit officer Kaven Tsang said in a news release.

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