[ET Net News Agency, 5 February 2021] Moody's Investors Service has upgraded the
corporate family rating (CFR) of Logan Group Company Limited (03380) to Ba2 from Ba3.
Moody's has also upgraded the senior unsecured debt rating on Logan's existing notes to
Ba3 from B1.
The outlook has been revised to stable from positive.
"The upgrade reflects our expectation that Logan's credit metrics will improve over the
next 12-18 months, driven by its strong revenue growth and controlled debt increase," said
Cedric Lai, a Moody's Vice President and Senior Analyst.
Specifically, Logan's revenue growth will be driven by its strong sales execution over
the past few years. Its contracted sales grew 32% to RMB120.7 billion in 2020 compared
with 2019, after recording strong 34% growth to RMB96.0 billion in 2019. (KL)
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03380 LOGAN GROUP
Nominal 
0.520 0.000 (0.000%) Research Report
05/02/2021 17:03
Moody's upgrades Logan Group (03380) to Ba2; outlook stable
| Remark: | Real time quote last updated: 19/04/2024 08:21 |
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