|Bid||4.3000 x 0|
|Ask||4.3100 x 0|
|Day's Range||4.2200 - 4.3200|
|52 Week Range||3.4800 - 4.8000|
|Beta (5Y Monthly)||0.68|
|PE Ratio (TTM)||7.48|
|Earnings Date||Oct 30, 2020|
|Forward Dividend & Yield||0.21 (4.97%)|
|Ex-Dividend Date||Jun 24, 2020|
|1y Target Est||3.96|
Moody's Investors Service, ("Moody's") has downgraded China Everbright Limited's (CEL) long-term and short-term foreign and local currency issuer ratings to Baa3/P-3 from Baa2/P-2. The outlook has been changed to stable from ratings under review. This is driven by CEL's elevated leverage which continues to be high despite recent debt reduction.
Moody's Investors Service has assigned a Baa3(hyb) foreign currency rating to the USD-denominated senior unsecured perpetual notes to be issued by China Everbright Limited (Baa3 stable). The Baa3(hyb) senior unsecured rating is on par with China Everbright Limited's Baa3 long-term issuer ratings, reflecting the proposed bonds' seniority in the issuer's liability structure. The perpetual notes constitute direct, unsubordinated, unconditional and unsecured obligation of China Everbright Limited and shall at all times rank pari passu and at least equally with all China Everbright Limited's other present and future unsecured, unconditional and unsubordinated obligations.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Everbright Securities Company Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.