Fitch revises Logan outlook to positive

Fitch Ratings said it revised Logan Group Co. Ltd.’s outlook to positive from stable, and affirmed the issuer default ratings, senior unsecured rating and the rating on the outstanding dollar-denominated senior notes at BB. The agency also affirmed Logan's subordinated perpetual capital securities at B+.

“The positive outlook reflects Logan's improving financial profile, with Fitch expecting leverage to be lower than 35% in the next 12-18 months, and remain at this level because the company has sufficient land bank to support growth. Logan's business expansion has shown financial discipline –– evident in the lower leverage –– and it has maintained high profitability with an EBITDA margin of about 30%,” Fitch said in a press release.

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