Moody’s eyes China Everbright for trim

Moody’s Investors Service said it placed China Everbright Ltd.’s Baa2 long-term issuer rating under review for downgrade.

“The review for downgrade on CEL's issuer ratings is driven by the downward pressure on CEL's Ba2 standalone assessment resulting from consistently increasing leverage over the recent years as well as the impact of the coronavirus outbreak and consequent economic downturn on CEL's principal investment and fund management businesses,” said Moody’s in a press release.

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