Moody’s changes AVIC to negative

Moody's Investors Service said it changed AVIC International Holding Corp.’s Baa3 outlook to negative from stable.

At the same time, the agency affirmed the company's Baa3 issuer and senior unsecured ratings issued by AVIC International Finance & Investment Ltd.

"The change in outlook to negative mainly reflects AVIC International's debt levels, which rose rapidly in 1H 2014, due to aggressive land acquisitions," Joe Morrison, Moody's vice president, senior analyst and international lead analyst for AVIC International, said in a news release.

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