Moody’s reviews Shanghai International Port

Moody's Investors Service said it placed the A1 issuer rating of Shanghai International Port (Group) Co., Ltd. (SIPG) on review for downgrade.

"The rating action is prompted by SIPG's announced investment in Postal Savings Bank of China Co., Ltd.'s (PSB, unrated) IPO," Moody's vice president and senior analyst Osbert Tang said in a news release.

"The transaction, which we expect to be debt-funded, represents a significant investment for SIPG, with the consideration amount of around $2.4 billion adding approximately 70% to SIPG's debt load."

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