Moody's lifts Dalian Wanda view to stable

Moody's Investors Service said it revised the outlook to stable from negative on Dalian Wanda Commercial Management Group Co., Ltd., Wanda Commercial Properties (HK) Co. Ltd., Wanda Properties Overseas Ltd. and Wanda Properties International Co. Ltd.

The outlook change reflects a view that the debt-refinancing risk of members of the group, which are substantially reduced after the repayment of the $1.7 billion offshore bank loans, Moody's said.

The offshore debt repayment was funded by disposals of offshore businesses and transferring out onshore cash, the agency said.

This development is positive to the company's funding management to service offshore debt obligations, Moody's said.

The outlook also considers the fact that Dalian Wanda will have adequate cash resources to maintain its onshore property businesses, the agency said.

The rating also considers the company's improving business risk, given that it will exit the relatively more volatile property development business at the end of the 2020, Moody's said.

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