Moody’s revises Hydoo to negative

Moody's Investors Service said it revised the outlook on Hydoo International Holding Ltd.’s B2 corporate family rating and B3 senior unsecured rating to negative from stable.

At the same time, the agency affirmed the ratings.

"The change in outlook to negative reflects our concern over Hydoo's increased liquidity risk, due to its consistently weak contracted sales against the backdrop of China's economic slowdown," Moody's vice president and senior credit officer Kaven Tsang said in a news release.

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