Moody's lowers China Fishery

Moody's Investors Service said it downgraded China Fishery Group Ltd.'s corporate family rating and senior unsecured debt rating to B1 from Ba3.

The outlook was changed to negative from stable.

"The downgrade reflects the increasing level of regulatory risk that China Fishery faces in its agreements to purchase fish from Russian companies in the Russian North Pacific in view of the current inquiry by the Federal Antimonopoly Service of the Russian Federation," Moody's vice president and senior analyst Alan Gao said in a news release.

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