S&P lowers Seazen; view negative

S&P said it lowered its long-term issuer credit ratings on Seazen Group Ltd. and Seazen Holdings Co. Ltd. to B from B+ and lowered the long-term issue rating on Seazen Holdings' guaranteed senior unsecured notes to B-.

The outlook is negative.

“The negative outlook reflects our view that Seazen's contracted sales could deteriorate further over the next 12 months amid weak market sentiment, particularly in lower-tier cities where the company has higher exposure,” S&P said in a news release.

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