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Moody’s might cut China Huiyuan Juice
Moody's Investors Service said it placed China Huiyuan Juice Group Ltd.’s B1 corporate family and senior unsecured ratings under review for downgrade.
The action follows the company’s announcement of a failure to comply with several listing rules on reporting, announcements and the independent shareholders' approvals needed for major loan provisions associated with related entities, the agency explained.
"Moody's rating review reflects our concerns over Huiyuan's weak corporate governance, as revealed by their recent announcement," Moody's vice president and senior credit officer Lina Choi said in a news release.
"Such a situation could adversely impact its access to funding in the future.
"Moody's rating review also takes into consideration the potential deterioration of Huiyuan's liquidity position as the situation evolves, which could trigger the early repayment of its debt obligations."
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