Moody's eyes Huarong Financial for trim

Moody's Investors Service said it placed China Huarong Financial Leasing Co., Ltd.’s Baa1 long-term of under review for downgrade.

Moody's also placed the medium-term note program and debt ratings of Huarong Leasing Management Hong Kong Co. Ltd. under review for downgrade. Huarong Leasing Management Hong Kong is an indirect wholly-owned subsidiary of Huarong Financial Leasing.

The agency’s decision follows its decision to place the ratings of parent China Huarong Asset Management Co., Ltd. under review for downgrade.

The review will focus on what effect, if any, the relevant transaction of China Huarong AMC may have on its own financial position, its implications for the credit profile of and the level of support to be assumed for Huarong Financial Leasing and if Huarong Financial Leasing can maintain diversified funding sources and adequate liquidity, Moody’s said.

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