Moody’s stabilizes Bright Food view

Moody's Investors Service said it changed the outlook for Bright Food (Group) Co., Ltd. and its subsidiaries Bright Food International Ltd. and Bright Food Singapore Holdings Pte. Ltd. to stable from negative.

The agency also affirmed Bright Food’s Baa2 issuer rating and the Baa3 rating senior unsecured rating.

"The rating affirmation and outlook change reflect our expectation that Bright Food will gradually reduce its leverage over the next 12-18 months, supported by an earnings recovery of its core food and agricultural business from a low base in 2022. The company has also been proactively reducing its debt and exposure from the property business over the years," said Roy Zhang, a Moody's vice president and senior analyst, in a press release.

© 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.