Moody's upgrades Shanghai Industrial

Moody's Investors Service said it upgraded Shanghai Industrial Urban Development Group Ltd.'s corporate family rating to Ba3 from B1 and senior unsecured bond rating to B1 from B2.

The outlook is stable.

"The upgrade reflects the increased financial and operational support from SIUD's parent, Shanghai Industrial Holdings," Moody's assistant vice president and analyst Franco Leung said in a news release.

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