Moody’s assigns Greentown’s ratings outlook to stable

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Moody’s Investors Service has revised rating to stable from positive the outlooks of Greentown China Holdings Limited.

Moody’s has also affirmed Greentown’s Ba3 corporate family rating.

“The change in the ratings outlook to stable from positive reflects our expectation that Greentown’s standalone financial profile will more likely stabilize at the current level than achieve a material improvement in the next 12-18 months,” says Franco Leung, a Moody’s Vice President and Senior Credit Officer.

Moody’s expects Greentown’s debt leverage, as measured by revenue/adjusted debt– including shares in joint venture contributions — will remain at around 55%-60% in the next 12-18 months.

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