Moody's cuts Hengdeli to Ba1

Moody's Investors Service said it downgraded Hengdeli Holdings Ltd.'s corporate family and senior unsecured debt ratings to Ba2 from Ba1.

The outlook remains stable.

"The downgrade has been prompted by the decline in Hengdeli's profit margin, and which is unlikely to reverse this trend in the next 12 -18 months," Moody's vice president and senior analyst Lina Choi said in a news release.

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