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Fitch gives BB to Logan notes
Fitch Ratings said it assigned Logan Group Co. Ltd.’s (BB/stable) proposed U.S. dollar senior notes a rating of BB.
Fitch expects the company's leverage to be around 35%-40% in the next 12-18 months, and remain at this lower level because the company has sufficient land bank to support growth.
“Logan has shown financial discipline during its business expansion – evident in the decline in leverage – and maintained high profitability with the EBITDA margin at above 30%,” Fitch said in a news release.
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