Moody’s changes Sunac China view

Moody's Investors Service said it revised to positive from stable the outlook for Sunac China Holdings Ltd.'s B2 corporate family rating and the B3 senior unsecured rating on its existing notes.

At the same time, the agency affirmed the company's ratings.

"The change in the ratings outlook to positive from stable reflects our expectation that Sunac will likely achieve debt deleveraging over the next 12-18 months," Franco Leung, Moody's senior vice president, said in a news release.

Moody's said it expects Sunac's ability to reduce debt leverage will come from its strong growth in contracted sales, even though the regulatory measures on property prices and the tight controls on credit are unlikely to be relaxed.

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