Moody's: Wan Hai view negative

Moody's Investors Service said it changed the outlook of Wan Hai Lines Ltd.'s Ba3 corporate family rating and B1 senior unsecured bond rating to negative from stable.

"The negative outlook reflects Moody's concerns that depressed freight rates and high bunker costs will continue to weigh on Wan Hai's profitability and operating cash flow in 2012," Moody's vice president and senior analyst Jonathan Lee said in a news release.

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