Moody’s: Bright Food view to stable

Moody's Investors Service said it affirmed Bright Food (Group) Co., Ltd.'s Baa3 issuer rating and revised the outlook to stable from negative.

"The change in outlook reflects Moody's expectation that Bright Food's leverage, whilst weak for its current rating level, will stabilize and gradually improve in the next 12-18 months. Furthermore, we believe that support from the Shanghai government will be provided as necessary – both in the form of subsidies and extraordinary support, if required – as the importance of Bright Food's role in the city's food and agricultural sector continues to rise," Moody's vice president and senior analyst Lina Choi said in a news release.

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