Moody's: Road King unchanged

Moody's Investors Service said Road King Infrastructure Ltd.'s 2011 operating results will not have an immediate impact on its Ba3 rating and negative outlook.

With good property sales in the previous year, Road King's 2011 results have been within expectations, Moody's said.

The ratings continue to reflect the company's stable cash flow from its toll road investments for debt servicing, adequate liquidity and cautious strategy on land acquisition, the agency said.

The ratings are constrained by its small scale and weaker brand name recognition due to its shorter track record in property development, Moody's said.

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