[ET Net News Agency, 17 January 2018] Moody's Investors Service has upgraded to Ba2
from Ba3 the corporate family rating of Fosun International Limited (00656). At the same
time, Moody's has changed the outlook on the rating to stable from positive.
"The upgrade of Fosun's corporate family rating to Ba2 reflects its improved business
profile, which should in turn reduce volatility in its future performance," said Lina
Choi, a Moody's Vice President and Senior Credit Officer, and also the International Lead
Analyst for Fosun.
Fosun has provided better transparency over its investment strategy. The company has
shifted its focus to more stable and asset-light businesses, thereby improving its
capacity to withstand cyclical risks. Specifically, the company has focused on its health
(healthcare & pharmaceuticals), happiness (tourism, leisure & consumer), and insurance.
As of 30 June 2017, the happiness, health, and insurance segments accounted for 7.2%,
12.9%, and 41.8% of the company's total assets respectively. These core businesses will
continue to grow and support the company's investment needs. (KL)