Moody's: Swire unaffected

Moody's Investors Service said that Swire Pacific Ltd.'s 2011 annual results are broadly in line with Moody's expectations and have no immediate effect on its rating.

"Despite achieving top line revenue growth of 24%, Swire Pacific posted a drop in adjusted underlying profit, though this is balanced by a substantial improvement in leverage metrics following the paydown of almost HK$15 billion of debt," Moody's senior credit officer Laura Acres said in a news release.

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