Moody’s alters Shinsun view to negative

Moody's Investors Service said it revised the outlook to negative from stable and affirmed the B2 corporate family rating of Shinsun Holdings (Group) Co., Ltd. The agency also affirmed the B3 senior unsecured rating on Shinsun’s bonds.

"The negative outlook reflects our expectation that Shinsun's contracted sales will fall over the next six to 12 months because of weaker consumer sentiment amid tight funding conditions, which will in turn lead to a deterioration in the company's financial metrics and liquidity," said Kelly Chen, a Moody's assistant vice president, in a press release.

"The rating affirmation reflects our expectation that Shinsun will have adequate liquidity to temper the risks associated with the difficult operating and financing conditions over the next six to 12 months," added Chen.

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