Moody's alters Shimao view to positive

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

"The change in outlook to positive from stable reflects our expectation that Shimao's credit metrics will improve over the next 12-18 months, supported by its strong sales in the past one to two years and its controlled debt growth," said Celine Yang, a Moody's assistant vice president and lead analyst for Shimao.

Concurrently, Moody's affirmed Shimao’s Ba1 corporate family rating.

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