Moody's downgrades Hopson

Moody's Investors Service said it downgraded Hopson Development Co. Holdings Ltd.'s corporate family rating to Caa1 from B3 and its senior unsecured rating to Caa2 from Caa1.

"The downgrades reflect the company's heightened liquidity risk as a result of its low cash holdings and weak sales execution, versus large near-term debt maturities, including $350 million senior notes due in November 2012," Moody's analyst Jiming Zou said in a news release.

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