US Stock Market Move | VNET Group, Inc. Sponsored ADR (VNET.US) rose more than 2% after Moody's Corporation upgraded their corporate family rating.

On Wednesday, VNET Group, Inc. Sponsored ADR (VNET.US) rose by more than 2%, reaching $8.08. In terms of news, Moody's Corporation recently upgraded the Corporate Family Rating (CFR) of VNET Group, Inc. Sponsored ADR from B3 to B2, with a stable outlook. Moody's Corporation Vice President and Senior Analyst Shawn Xiong attributed the rating upgrade to VNET Group, Inc. Sponsored ADR's continuous expansion of its wholesale Internet Data Center (IDC) business, which is thriving due to strong demand for data center capacity in China. Xiong expects the company to continue achieving robust revenue and profit growth in the next 12-18 months, with the help of operational synergies from strategic shareholder Shandong Hi-speed Holdings.