Moody's lifts Longfor view to positive

Moody's Investors Service said it revised the outlook on Longfor Group Holdings Ltd. to positive from stable.

Moody's also said it affirmed Longfor's Baa3 issuer and senior unsecured ratings.

The outlook revision reflects an expectation that the improvement in the company's financial metrics will be sustained at levels that are strong when compared with its Baa3-rated Chinese property peers over the next 12- to 18-months, the agency said.

Longfor will continue to grow its investment property portfolio, which will further strengthen the company's cash flow stability and debt-servicing abilities, Moody's said.

The company's financial strength is a result of its balanced approach towards business growth, cash flow stability and disciplined financial management, the agency said.

The company has prudent sales growth and land bank expansion targets, with an aim to control its debt growth and risks, Moody's said.

It also has carefully scaled its construction progress according to market demand, the agency said.

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