Moody's upgrades Longfor

Moody's Investors Service said it upgraded Longfor Properties Co. Ltd.'s corporate family rating to Ba1 from Ba2 and its senior unsecured bond rating to Ba2 from Ba3.

The outlook is stable.

"The upgrade reflects Longfor's success in implementing its business plan and maintaining a strong and stable credit profile when compared with its peers that are rated in the mid-Ba range," Moody's vice president and senior analyst Kaven Tsang said in a news release.

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