Moody's turns Hopson outlook to negative

Moody's Investors Service said it changed Hopson Development Holdings Ltd.’s outlook to negative from stable and affirmed the B2 corporate family rating.

"The change in outlook to negative reflects our expectation that Hopson's contracted sales will fall over the next six to 12 months because of weaker consumer sentiment amid tight funding conditions, which in turn will lead to a deterioration in the company's financial metrics and liquidity," said Kelly Chen, a Moody's assistant vice president and analyst, in a press release.

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