Moody's lowers China Fishery to B2

Moody's Investors Service said it downgraded China Fishery Group Ltd.'s corporate family rating and the senior unsecured rating on notes issued by its subsidiary, CFG Investment SAC, to B2 from B1.

The outlook is stable.

"The downgrade has been prompted by China Fishery's announcement that it will end its long-term contract supply business in Russia, which will significantly impact the company's capacity for debt servicing," Moody's vice president and senior analyst Lina Choi said in a news release.

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