Fitch rates Sunac China notes BB

Fitch Ratings said it assigned an expected BB rating to Sunac China Holdings Ltd.'s proposed dollar-denominated senior notes.

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

The ratings reflect a view that leverage will stay lower than 40% for a sustained period, the agency explained.

Sunac has publicly committed to de-leverage and Fitch said it believes it will not aggressively make land acquisitions or large investments in other businesses.

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