JD.com rose more than 1% in pre-market trading, Moody's upgraded its credit rating to "A3"

Zhitong
2024.09.10 08:56

JD.com rose 1.12% in pre-market trading to $26.18. Rating agency Moody's announced an upgrade of JD Group's issuer rating and senior unsecured rating from "Baa1" to "A3", with a stable outlook. Moody's Vice President and Senior Analyst Shawn Xiong stated that the upgrade and stable outlook reflect JD's leading position in the Chinese e-commerce market. The group is believed to have a unique and resilient business model, supported by strong supply chain capabilities, economies of scale, and prudent financial policies, enabling it to maintain a low leverage ratio and robust net cash position

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