Moody’s could lower Greenland

Moody's Investors Service said it placed Greenland Holding Group Co. Ltd.’s Baa3 issuer rating, and Greenland Hong Kong Holdings Ltd.’s Ba1 corporate family rating on review for downgrade.

The agency also placed various backed medium-term note and medium-term note program ratings under review for downgrade.

"We placed Greenland Holding on review for downgrade over concerns that the company's high debt leverage and weak financial metrics could persist over the next 12-18 months amid challenging operating conditions in China," Moody's vice president and senior credit officer Franco Leung said in a news release.

"These concerns are based on Greenland Holding's large operations and fast growth, which require sizable funding for its property development and other businesses."

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