Moody's confirms COFCO HK's A3 issuer rating; outlook negative
Hong Kong, November 22, 2016-- Moody's Investors Service has confirmed COFCO Limited's A3 issuer rating, as well as the A3 rating on the senior unsecured bonds issued by Prosperous Ray Limited and guaranteed by COFCO HK. The ratings outlook is negative. This confirmation concludes Moody's review of COFCO HK's ratings initiated on 26 August 2016, following COFCO HK's announcement on 23 August 2016 that it intended to acquire the remaining 49% stake in Nidera BV.
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