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Analysis

Moody’s: Complex China Fishery debt restructure will lead to credit crunch, erosion of assets

Move by HSBC likely to lead to crunch on credit for the group, which will cause asset erosion and possible lower returns for bondholders, says ratings agency

By Undercurrent News | Nov. 27, 2015 17:57 GMT
Anchovy fishing in Peru. Photo: Copeinca
Anchovy fishing in Peru. Photo: Copeinca
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The increasing complexity of the debt restructure of China Fishery Group after the appointment of KMPG as provisional liquidators will cause erosion of the assets of the Pacific Andes International Holdings-owned firm, according to a note from Moody's Investors Service [...]

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