February 25, 2020 / 1:12 AM / a month ago

BRIEF-Moody's Says Although Credit Negative, LGFVs Do Not Face Immediate Refinancing Risk From Coronavirus

Feb 24 (Reuters) - Moody’s-

* MOODY’S SAYS ALTHOUGH CREDIT NEGATIVE, LGFVS DO NOT FACE IMMEDIATE REFINANCING RISK FROM CORONAVIRUS

* MOODY’S -ALTHOUGH CORONAVIRUS OUTBREAK CREDIT NEGATIVE FOR CHINESE LOCAL GOVERNMENT FINANCING VEHICLES, IT DOES NOT POSE IMMEDIATE REFINANCING RISK

* MOODY’S SAYS CREDIT QUALITY FOR CHINESE LOCAL GOVERNMENT FINANCING VEHICLES REMAINS UNDERPINNED BY CONTINUED GOVERNMENT SUPPORT AND FUNDING ACCESS

* MOODY’S-POSSIBLE THAT CORONAVIRUS WILL DELAY OR REDUCE THE FUNDING LGFVS RECEIVE FROM THEIR REGIONAL&LOCAL GOVERNMENT OWNERS IN THE FIRST HALF OF 2020

* MOODY’S -IF VIRUS-RELATED DISRUPTIONS CONTINUE FOR EXTENDED PERIOD, THEY WILL WEIGH ON CREDIT QUALITY OF LGFVS, AND MORE CREDIT DIVERGENCE WILL OCCUR

* MOODY'S SAYS EXPECT LGFVS WILL CONTINUE TO RECEIVE GOVERNMENT SUPPORT, MAINTAIN THEIR FUNDING ACCESS AND BENEFIT FROM CREDIT EASING MEASURES Source text: bit.ly/2Pn2FnR

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