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Moody's affirms Yango Group's corporate family rating

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Moody's affirms Yango Group's corporate family rating

Moody's affirmed the B2 corporate family rating of Yango Group Co. Ltd. and changed its rating outlook on the Chinese residential developer to positive from stable.

The rating agency also affirmed the B3 backed senior unsecured debt ratings of Yango Justice International Ltd., the company's debt-issuing vehicle.

The positive outlook reflects the rating agency's expectation that the company's credit metrics will strengthen over the next 12-18 months, as well as slowly reduce its exposure to trust financing and enhance its debt maturity profile.

The affirmation is backed by Yango Group's quality and geographically diversified land bank, large scale and robust sales execution, according to Moody's.