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Swire Properties Limited -- Moody's: Swire Properties' asset sale plan is credit positive for it and Swire Pacific; ratings unaffected

Moody's Investors Service says that Swire Properties Limited's (A2 stable) plan to dispose of its interests in two office towers in Hong Kong -- if successful -- will be credit positive for both it and its parent, Swire Pacific Limited (A3 negative). Swire Properties, a 82%-owned subsidiary of Swire Pacific, announced on 10 May its intention to dispose of its 100% ownership stakes in Cityplaza Three and Cityplaza Four in Quarry Bay, Hong Kong.