Moody's downgrades Road King

Moody's Investors Service said it downgraded Road King Infrastructure Ltd.'s corporate family rating to B3 from B2.

At the same time, the agency lowered the backed senior unsecured ratings to Caa1 from B2 of the notes issued by RKI Overseas Finance 2017 (A) Ltd., RKP Overseas Finance 2016 (A) Ltd., RKPF Overseas 2019 (A) Ltd., RKPF Overseas 2019 (E) Ltd., and RKPF Overseas 2020 (A) Ltd.

"The downgrades reflect Road King's declining liquidity buffer and financial flexibility amid the company's weakening sales in a challenging operating and funding environment over the next 12-18 months," said Cedric Lai, a Moody's vice president and senior analyst, in a press release.

The outlook is negative.

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