Moody's: Shanghai Industrial is unaffected

Moody's Investors Service said that Shanghai Industrial Urban Development Group Ltd.'s B1 corporate family rating and the B2 rating of its dollar-denominated senior notes will not be affected by the 2012 first half pretax loss of HK$296 million.

The outlook remains stable.

"Shanghai Industrial's weak 2012 first half results reflect losses from the ongoing integration of its previous Neo-China business, which mainly focused on residential developments," Moody's assistant vice president and analyst Franco Leung said in a news release.

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