Moody’s: Guangxi Financial view to developing

Moody's Investors Service said it affirmed Guangxi Financial Investment Group Co., Ltd.'s Ba1 long-term corporate family rating and Ba1 senior unsecured rating and changed the outlook to developing from stable.

The change in outlook follows the company’s Jan. 8 announcement it is becoming a wholly-owned subsidiary of Guangxi Investment Group, a company 100% directly owned by the Guangxi provincial government. The change in outlook reflects the uncertainty surrounding the restructuring.

Guangxi Investment’s chairman will become the new chairman of Guangxi Financial.

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