Moody’s views Nanjing Pukou positively

Moody's said it changed the outlook on Nanjing Pukou Economic Development Co., Ltd. to positive from stable and affirmed the Ba2 corporate family rating.

"The change in outlook to positive reflects improving trends in the Pukou district government's propensity to support Nanjing Pukou given the company's increasing strategic importance to Pukou district. We expect this trend will continue and likely drive the company's corporate family rating to a higher level over the next 12 months," said Ying Wang, a Moody's vice president and senior analyst, in a press release.

The agency projects Nanjing Pukou's capital spending will be around RMB 10 billion every year for 2022-24, which will continue to be funded partly by government payments and partly through debt sales.

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