Moody's shifts Zensun view to negative

Moody's Investors Service said it revised the outlook for Zensun Group Ltd. to negative from stable and affirmed the B2 corporate family rating. The agency also affirmed the B3 senior unsecured rating on the bonds issued by Zensun Enterprises Ltd.

"The change in outlook to negative reflects our expectation that Zensun's contracted sales will fall over the next 6-12 months because of weaker consumer sentiment amid tight funding conditions in China's property sector, which will in turn lead to a deterioration in the company's financial metrics and liquidity," said Daniel Zhou, a Moody's analyst, in a press release.

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