Fitch rates Sunac China notes BB-

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

The notes are rated at the same level as Sunac's senior unsecured rating because they constitute its direct and senior unsecured obligations, the agency said.

Fitch said that Sunac's rating reflects an expectation that the company will continue to delever in 2018, although the pace of deleveraging depends on the company's investment plans.

The agency said it will consider revising the outlook to stable if Sunac continues to exercise prudent financial management and sustains leverage below 50%.

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