Zhenro Properties slumps after Moody's downgrade

Zhenro Services

15/02/2022 02:08

** Shares of Zhenro Properties Group Ltd  6158.HK  and its
property services unit  6958.HK  slump roughly 8% and 11%,
respectively 
    ** Ratings agency Moody's said on Monday it cut Zhenro
stock's rating and lowered outlook to "negative" from "stable",
citing heightened refinancing and default risks  urn:newsml:reuters.com:*:nFWN2UP04M
    ** The developer said "certain articles that have been
published on the internet" about its offshore debt and
controlling shareholder are "untrue and fictitious"  urn:newsml:reuters.com:*:nFWN2UM1UK
    ** Shares of Zhenro Properties have dropped roughly 90%
since last Friday on market speculation  urn:newsml:reuters.com:*:nL1N2UM0EE

 (Shanghai Newsroom)
 ((Jason.Xue@thomsonreuters.com))