Moody’s stabilizes New Oriental outlook

Moody’s Investors Service said it revised its outlook for New Oriental Education & Technology Group Inc. to stable from negative and affirmed its Ba1 senior unsecured rating.

"The stable outlook reflects Moody's expectation that New Oriental's credit profile will stabilize as a result of a steady recovery in its remaining education service segments after the cessation of the company's K-9 Academic after-school tutorial (AST) services. Also supporting the company's credit quality is a likely prudent expansion in its new business initiatives amid the regulatory changes in China's private education sector over the past 12 to 18 months," said Shawn Xiong, a Moody's vice president and senior analyst, in a press release.

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