Moody's: CITIC Resources' announced net profit for 2016 is credit positive
Hong Kong, February 21, 2017-- Moody's Investors Service, says that CITIC Resources Holdings Limited's announcement of its profit for 2016 is credit positive, reflecting improving performance and debt leverage trends. However, the announcement will not immediately affect its B1 corporate family rating and the negative outlook on the rating because the company has not fully recovered from its operating loss and still demonstrates high levels of debt leverage.
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