Moody's assessed a negative outlook for China Fishery Group on its way to downgrading the company's credit rating.
Date: 2015-10-17 Source:seafoodnews
Moody's assessed a negative outlook for China Fishery Group on its way to downgrading the company's credit rating. The adjusted is based on an expectation that the anchovy season in Peru is in the midst of severe disruption from the El Nino weather pattern. "The downgrade reflects our increased concerns regarding CFG's ability to service its debt obligations, given an expected weakening in its cash flow and liquidity, stemming from the potential negative impact of the El Nino weather on its operations," said Lina Choi, a Moody's Vice President and Senior Credit Officer.
