Brief: Moody's Downgrades Ronshine To B3/Caa1, Outlook Negative

Ronshine China Holdings

14/01/2022 09:32

Jan 14 (Reuters) - MOODY'S:
    * MOODY'S DOWNGRADES RONSHINE TO B3/CAA1, OUTLOOK NEGATIVE
    * MOODY'S - DOWNGRADED RONSHINE CHINA HOLDINGS LIMITED'S
CORPORATE
FAMILY RATING (CFR) TO B3 FROM B2, AND ITS SENIOR UNSECURED
RATINGS TO CAA1 FROM B3
    * MOODY'S - ALSO CHANGED ALL RATING OUTLOOKS FOR RONSHINE TO
NEGATIVE FROM RATINGS UNDER REVIEW
    * MOODY'S  SAYS THE NEGATIVE OUTLOOK REFLECTS THE
UNCERTAINTIES
AROUND RONSHINE'S ABILITY TO ADDRESS ITS DEBT MATURITIES OVER
THE NEXT 6-12 MONTHS
    * MOODY'S - DOWNGRADE REFLECTS RONSHINE'S WEAKENED
OPERATIONS,
INCREASED REFINANCING RISKS DUE TO DETERIORATED FUNDING ACCESS
    * MOODY'S - RONSHINE'S B3 CFR REFLECTS ITS WEAK LIQUIDITY,
GIVEN
ITS SIGNIFICANT ONSHORE AND OFFSHORE DEBT MATURITIES IN THE NEXT
12-18 MONTHS
    * MOODY'S - DOWNGRADE REFLECTS RONSHINE'S WEAKENED
OPERATIONS,
INCREASED REFINANCING RISKS DUE TO SIZABLE DEBT MATURITIES OVER
THE NEXT 12-18 MONTHS

Source text for Eikon:  ID:nMDY3KLCf0 
Further company coverage:  3301.HK 

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