S&P ups Sunac, view stable

Standard & Poor's said it revised the rating outlook on Sunac China Holdings Ltd. to stable from negative.

In line with the outlook revision, S&P raised its long-term Greater China regional scale rating on the company to cnBB+ from cnBB.

The agency affirmed its BB- long-term corporate credit rating on Sunac and the B+ long-term issue rating on the company's senior unsecured notes.

S&P also raised the long-term Greater China regional scale rating on the notes to cnBB from cnBB-.

The agency said it expects Sunac's operating scale and financial performance to stabilize in the next two years. It also expects the company's profitability to recover and stabilize over the next year.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.