Moody's eyes Fosun for downgrade

Moody's Investors Service said it placed on review for downgrade Fosun International Ltd.'s Ba2 corporate family rating and the Ba2 senior unsecured rating on the bonds issued by Fortune Star (BVI) Ltd. and guaranteed by Fosun.

The agency changed the outlook to ratings under review from stable.

“The review for downgrade of Fosun's ratings reflects Moody's concerns over the company's ability to maintain its credit metrics at levels appropriate for its Ba2 CFR amid the coronavirus-led economic downturn,” the agency said in a press release.

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