Moody's downgrades Sino-Ocean's ratings to 'Ca/C'
Reuters · 6d ago
Moody's downgrades Sino-Ocean's ratings to 'Ca/C'

- Moody's downgraded its ratings for China's state-backed property developer Sino- Ocean Group Holding 3377.HK to "Ca" from "Caa2" on Friday with a outlook.

The downgrade comes after Sino-Ocean Group said earlier in the day that it was halting repayments for all offshore debt until a restructuring is implemented and suspended trading of its U.S. dollar securities in Hong Kong.



(Reporting by Akanksha Khushi in Bengaluru; Editing by Kim Coghill)

((Akanksha.Khushi@thomsonreuters.com;))