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Moody's withdraws Wuzhou International rating

Moody's Investors Service withdrew its Ca corporate family rating and negative outlook on Wuzhou International Holdings Ltd.

The rating agency said the rating was withdrawn because it had insufficient or otherwise inadequate information to support the maintenance of its rating on the Chinese developer.

Wuzhou International defaulted on multiple bond payment obligations and loans in 2018, its shares were suspended from trading on the Hong Kong bourse in September 2018, and the company formed a special investigation committee to probe possible unapproved transfers of equity in certain subsidiaries.