Moody's reviews Shanghai Zendai

Moody's Investors Service said it placed the B2 corporate family and senior unsecured ratings of Shanghai Zendai Property Ltd. on review for possible downgrade.

The review is in response to the resignation of four executive directors and appointments of four new executive directors, Moody's said.

The agency said it is concerned that senior management changes could interrupt the company's operation and have a negative impact on its credit profile.

The review will focus on the reasons for the directors' resignations. It also will evaluate any potential change in management strategy and the impact on the company's credit profile, Moody's said.

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