Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Shinsun Holdings (Group) Co. Ltd. > News item |
Fitch downgrades Shinsun
Fitch Ratings said it lowered Shinsun Holdings (Group) Co., Ltd.'s long-term foreign-currency issuer default rating to B- from B.
The agency said it also removed the ratings from under criteria observation following the publication of its updated corporate rating criteria. The outlook is negative.
“The downgrade and negative outlook reflect Shinsun's limited funding access amid refinancing needs in the coming 12 months. The negative outlook also takes into consideration volatile sales amid a slowdown in China's property market. The related weakening in consumer confidence may lead to further deterioration in the company's liquidity and cash collection and damage its business profile,” Fitch said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.