Moody's turns Central China view to negative

Moody's Investors Service said it changed Central China Real Estate Ltd.’s outlook to negative from stable. The agency also affirmed CCRE's Ba3 corporate family rating and B1 senior unsecured ratings.

"The negative outlook reflects our expectation that CCRE's sales and financial metrics would weaken because of the challenging operating environment in CCREs' core markets and weakened access to offshore funding," said Kaven Tsang, a Moody's senior vice president, in a press release.

"At the same time, the rating affirmation reflects our expectation that CCRE will have sufficient liquidity to address its refinancing needs amid volatile offshore debt capital markets, and CCRE's leading market position in its home Henan market," added Tsang.

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