Moody's Investors Service has upgraded Yuzhou Properties Company Limited's (01628) senior unsecured debt rating to B1 from B2.
Moody's has also affirmed the company's B1 corporate family rating. The ratings outlook is stable.
"The senior unsecured rating upgrade reflects Yuzhou's track record of raising offshore funding and our expectation that it can keep priority debt, mainly comprising domestic bank borrowings, around 15%-16% of total consolidated assets in the next 12--18 months," said Lina Choi, a Moody's Vice President and Senior Analyst.
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