Moody’s revises Sino-Ocean to stable

Moody's Investors Service said it changed the outlook on Sino-Ocean Group Holding Ltd.’s Baa3 issuer ratings to stable from negative.

At the same time, the agency changed the outlook on the Baa3 senior unsecured ratings on the bonds issued by Sino-Ocean Land Treasure Finance I Ltd. and Sino-Ocean Land Treasure Finance II Ltd. and guaranteed by Sino-Ocean to stable from negative.

All ratings were affirmed.

"The stable ratings outlook reflects our expectation that Sino-Ocean's improved credit metrics will be sustained over the next 12-18 months, and that the support the company will likely receive from China Life Insurance Co Ltd (China Life, insurance financial strength Aa3 negative) in times of need will remain unchanged," Moody's vice president and senior credit officer Franco Leung said in a news release.

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