Moody's ups Sunny Optical

Moody's Investors Service said it upgraded Sunny Optical Technology (Group) Co. Ltd.’s issuer and senior unsecured ratings .to Baa1 from Baa2.

"The upgrade to Baa1 reflects Sunny Optical's improving credit diversification which, in our view, sufficiently mitigates structural subordination risk. The rating was previously one notch lower than it would otherwise be because of Sunny Optical's holding company status and structural subordination to claims at the operating company level," said Gerwin Ho, a Moody's vice president and senior credit officer, in a press release. The outlook remains stable.

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