Moody’s ups Guangxi Communications

Moody's Investors Service said it upgraded Guangxi Communications Investment Group Corp. Ltd.’s issuer and senior unsecured ratings to Baa2 from Baa3.

“The upgrade considers the increased likelihood of support for GXCI following its recent merger with Guangxi Railway Investment Group Co., Ltd., making it the province's dominant toll-road operator and sole railway platform,” said Boris Kan, a Moody's vice president and senior credit officer, in a press release.

Since the merger, the company’s role in transportation infrastructure has grown at the provincial and national level leading Moody’s to add a notch in government support, Kan said.

The outlook is stable, mirroring the outlook for China’s sovereign rating, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.