S&P rates Sunac China notes B

S&P said it assigned its B long-term issue rating to a proposed issue of U.S. dollar-denominated senior unsecured notes by Sunac China Holdings Ltd. (B+/positive/--).

The company intends to use the net proceeds primarily to refinance its existing debt.

“We do not expect the new issuance to have any significant impact on Sunac's credit profile. In our view, the company will maintain strong sales execution and sustainable profitability while continuing to improve its financial leverage through more controlled spending,” S&P said in a news release.

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