Fitch gives BB- to Sunac China notes

Fitch Ratings said it assigned Sunac China Holdings Ltd.’s (BB-/rating watch negative) proposed dollar-denominated senior notes a BB-(EXP) expected rating on negative watch.

The proposed notes, to be issued by Sunac, are rated at the same level as its senior unsecured rating because they will represent the company's direct and senior unsecured obligations.

Fitch said the rating is supported by Sunac's large scale and position among the top-10 Chinese homebuilders by contracted sales as well as its fast-churn business model.

© 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.