SYDNEY, Oct 19 (Reuters) - Ratings agency Moody's said on Thursday it could downgrade Country Garden's 'corporate family rating' if the recovery prospects for its creditors weaken further.

Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale.

"We could downgrade its corporate family rating if recovery prospects for its creditors weaken further. An upgrade is unlikely, given the negative rating outlook," it said in a statement to Reuters.

(Reporting by Scott Murdoch; Editing by Muralikumar Anantharaman)