Moody's: Baidu's A3 ratings unaffected by modest FY2016 results and convertible bond issuance by subsidiary
Hong Kong, February 27, 2017-- Moody's Investors Service says that Baidu Inc.' s modest FY2016 results and the convertible bond issuance by its subsidiary will not immediately affect its A3 issuer and senior unsecured ratings, or the stable outlook on the ratings. Moody's conclusion is based on the consideration that the company's revenue and cash flow stabilized in 2 H2016 and will recover in 2017.. "While Baidu's credit metrics will remain weak for its A3 ratings over the next...
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