Moody’s changes China Everbright to stable

Moody's Investors Service said it affirmed China Everbright Ltd.’s long-term/short-term issuer ratings at Baa2/P-2 and standalone assessment at ba2.

The outlook was changed to stable from negative.

Moody’s said the primary drivers for the affirmation and outlook change are:

• China Everbright’s standalone assessment, which is appropriate at the current level;

• Moody's assumption of a high probability of support from its parent, China Everbright Group Ltd., which the agency believes will unlikely change over the medium-term; and

• The improvement in China Everbright Group's and its key subsidiaries' credit profiles.

The outlooks of China Everbright Bank Co. Ltd. and Everbright Securities Co. Ltd., affiliates of China Everbright, are also stable.

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