Moody's downgrades Hopson

Moody's Investors Service said it downgraded Hopson Development Co. Holdings Ltd.'s corporate family rating to B3 from B1 and its senior unsecured rating to Caa1 from B2.

The outlook is negative.

"The downgrade reflects Hopson's deteriorating liquidity position, due in part to lower-than-expected contract sales and the maturing of a material amount of debt in 2012," Moody's analyst Jiming Zou said in a news release.

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