Moody’s revises China Wanda view to negative

Moody’s Investors Service said it revised China Wanda Group Co.’s outlook to negative from stable on weakening liquidity.

Healthy cash flow generation and proven access to funding will help China Wanda’s refinancing efforts, Moody’s said in a press release.

The agency cited the company’s recent sale of RMB 1.07 billion in three-year notes as proof it can raise money.

Moody’s also affirmed China Wanda’s B1 corporate family rating.

“The affirmation of China Wanda's B1 CFR reflects our expectations that the company's operational performance will remain steady, and that it can continue to access funding, as evidenced by its domestic bond issuance in early July 2019,” said Ying Wang, a Moody's vice president and senior analyst, in a news release.

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