Moody's ups Swire Pacific view to positive

Moody's Investors Service said it changed the outlook on the A3 issuer rating of Swire Pacific Ltd. to positive from stable, along with the outlook on the A3 senior unsecured rating of Swire Pacific MTN Financing Ltd. and the Baa1 subordinated debt rating of Swire Pacific Capital Ltd. and Swire Pacific Offshore Financing Ltd. to positive from stable.

Swire has been strongly positioned at its A3 rating for some time, Moody's said, and the change in the rating outlook reflects the long-proven prudence of its business and financial strategies. Its overall credit profile is expected to remain strong due to its diversified business portfolio, the agency said.

The ratings are further supported by the company's diversified business mix, which includes aviation, beverages, marine services and trading and industrial operations, Moody's said.

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