Moody's: Hopson unchanged

Moody's Investors Service said that Hopson Development Holdings Ltd.'s weak liquidity position in the first half of 2012 continues to weigh on its credit profile.

At the same time, Moody's said it had already considered such liquidity risk in its current Caa1 corporate family and Caa2 senior unsecured ratings with a negative outlook.

Therefore, the ratings are unaffected, the agency said.

Moody's said Hopson's liquidity position remained weak in the first half of 2012 even though its cash balance rose to HK$5.7 billion as of June 30, after its sale of its BBMG shares for HK$2.1 billion.

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