Moody's downgrades Parkson to B3; outlook negative
Hong Kong, February 22, 2017-- Moody's Investors Service has downgraded Parkson Retail Group Limited's corporate family and senior unsecured debt ratings to B3 from B2. The rating outlook remains negative. "The rating downgrade reflects the continued deterioration in Parkson's profitability and cash flows, which has weakened its financial profile to a level that is more commensurate with a B3 rating," says Gloria Tsuen, a Moody's Vice President and Senior Analyst.
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