Moody’s lowers Beijing Capital Land

Moody's Investors Service said it downgraded Beijing Capital Land Ltd.’s corporate family rating to Ba3 from Ba2 and International Financial Center Property Ltd.’s corporate family rating to B1 from Ba3.

The outlook on all ratings is negative. This concludes the review initiated on Feb. 29.

"The rating downgrade of Beijing Capital Land Ltd. reflects its weakened credit profile due to its high debt leverage and contracted profit margins," Moody's vice president and senior credit officer Kaven Tsang said in a news release.

Beijing Capital Land’s Ba3 corporate family rating reflects its standalone credit strength and a two-notch rating uplift, based on expected strong financial and operating support from its parent, Beijing Capital Group Co., Ltd.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.