Moody's upgrades Hubei Science

Moody's Investors Service said it upgraded Hubei Science & Technology Investment Group Co. Ltd.'s issuer rating to Baa2 from Baa3 and revised the outlook to stable from positive.

"The rating upgrade reflects Hstig's reduction in contingent risk exposures to a moderate from high level, resulting in an improvement in the government's propensity to support the company and our expectation that the company will maintain its credit quality commensurate with the Baa2 rating level amid its expansion over the next two to three years," said Chenyi Lu, a Moody's vice president and senior credit officer, in a press release.

The stable outlook reflects the outlook of stable outlook of China’s sovereign outlook, the agency said.

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