Moody's may up Hongkong Land

Moody's Investors Service said it placed its Baa1 issuer and senior unsecured debt ratings on Hongkong Land Holdings Ltd. under review for possible upgrade, along with the A3 issuer and senior unsecured debt ratings of Hongkong Land Co. Ltd.

The review has been prompted by the company's resilience in the 2008-2009 down market, as evidenced by ongoing growth in revenue and high occupancy rates, Moody's said.

The company has aptly demonstrated its ability to manage its property investment and development businesses and produce positive results, which have improved its first half of 2010 credit metrics, the agency said.

The company's liquidity remains strong, Moody's said.

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