Moody's shifts China SCE view to stable

Moody's Investors Service said it changed the outlook on China SCE Group Holdings Ltd. to stable from positive. The agency also affirmed China SCE's B1 corporate family rating and its B2 senior unsecured debt rating.

"The change in outlook to stable reflects our expectation that China SCE's credit metrics will likely not meet the thresholds required for a rating upgrade, given the challenging operating and funding conditions," said Celine Yang, a Moody's vice president and senior analyst, in a press release.

The agency said it forecasts China SCE's contracted sales will retreat over the next six to 12 months, compared with the previous forecast of around 10% growth, driven by weaker homebuyer confidence amid tighter funding conditions.

"The rating affirmation reflects our expectation that company China SCE will have good liquidity to temper the risks associated with the difficult operating and financing conditions over the next six to 12 months," added Yang.

© 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.