Moody's changes Sunac view to positive

Moody's Investors Service said it changed Sunac China Holdings Ltd.’s outlook to positive from stable. Concurrently, Moody's affirmed Sunac's Ba3 corporate family rating and B1 senior unsecured debt rating.

"The change in outlook to positive reflects our expectation that Sunac's debt leverage will improve over the next 12-18 months, driven by strong revenue growth, controlled land acquisitions and other investments," said Danny Chan, a Moody's assistant vice president and analyst, in a press release.

"We also expect Sunac will continue to exercise prudent financial discipline, maintain good liquidity and expand its funding access in the next 12-18 months while pursuing balanced growth in its property development and non-property development businesses," added Chan.

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