Moody's lifts Tingyi view to stable

Moody's Investors Service said it revised Tingyi (Cayman Islands) Holding Corp.'s outlook to stable from negative.

The agency also affirmed the company's Baa1 issuer rating.

The outlook revision reflects Tingyi's stronger level of financial flexibility for the purposes of maintaining low levels of debt leverage despite the presence of a challenging operating environment, Moody's said.

Tingyi also demonstrated prudence in its financial management and has the capacity to maintain a sound financial position consistent with its Baa1 issuer rating, the agency said.

The company has a strong cash position and is able to generate operating cash flow to de-leverage, allowing it to weather different business cycles and the changing character of demand in the instant noodles industry, Moody's added.

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