Moody’s upgrades Jiayuan

Moody’s Investors Service said it upgraded Jiayuan International Group Ltd.’s corporate family rating to B2 from B3 and the senior unsecured rating on its dollar-denominated notes to B3 from Caa1.

“The upgrade reflects our expected reduction in Jiayuan’s change of control risks as a result of the completion of asset injection and reduced share pledge loans by its chairman,” said Josephine Ho, a Moody’s vice president and senior analyst, in a press release.

The outlook is stable.

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