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Moody’s Cuts Glorious Property’s Corporate, Bond Ratings

Feb. 27 (Bloomberg) -- Glorious Property Holdings Ltd. had its corporate and bond ratings cut by Moody’s Investors Service because of refinancing risks, according to an e-mailed statement from the ratings company.

Moody’s lowered Glorious Property’s corporate family rating to B3 from B2, and downgraded the rating on company’s $300 million 13 percent bond due 2015 to Caa1, the statement said.

Link to Company News:{845 HK <Equity> CN <GO>}

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net

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