We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.


The global fashion business journal

Feb 21, 20207:24am

Shandong Ruyi: Moody’s downgrades company rating to CAA1

Analysts believe that the problem of the Chinese company’s debt is related to the acquisitions made by the company in the last ten years, which have meant paying out 40,000 million yuan (5.6 billion dollars).

Dec 11, 2019 — 5:47pm
mds
Related topics
Save

Shandong Ruyi: Moody’s downgrades company rating to CAA1

 

 

Shandong Ruyi, on alert. Moody’s, the rating agency, has lowered the rating of the Chinese group to CAA1, which assumes that the company’s bonds, valued at 345 million dollars are on the credit watch list.

 

Also, analysts believe that the problem of the Chinese company’s debt is related to the acquisitions made by the company in the last ten years, which have meant paying out 40,000 million yuan (5.6 billion dollars).

 

The company, which owns Smcp and British companies like Aquascutum and Taylor&Lodge, has been expanding its brand portfolio in recent months. The last acquisition the group has been Invista, owner of Lycra.

Advertising
Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...