Moody’s might lower Kangde Xin

Moody's Investors Service said it placed on review for downgrade Kangde Xin Composite Material Group Co., Ltd.'s Ba3 corporate family rating and Top Wise Excellence Enterprise Co., Ltd.'s backed Ba3 senior unsecured bond rating.

The agency said the action follows the continued suspension in trading of Kangde Xin’s shares on the Shenzhen Stock Exchange following similar suspensions over the past several months.

"The review reflects our concern that repeated and prolonged trading suspensions of KDX's shares will impede the company's ability to access the equity market for funding," Gloria Tsuen, Moody's vice president and senior analyst, said in a news release.

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