Moody's alters Bright Scholar view to negative

Moody's Investors Service said it affirmed Bright Scholar Education Holdings Ltd.'s Ba3 corporate family and senior unsecured ratings and revised the outlook to negative from stable.

The outlook change follows the May 14 implementing private education promotion law by the China State Council, the agency said.

"The outlook change to negative reflects the uncertainty related to the regulatory change and implementation, which could adversely affect Bright Scholar's business expansion and financial performance," said Shawn Xiong, a Moody's assistant vice president and analyst, in a press release.

The agency said it will closely monitor developments, which will determine the effect on the company.

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