Fitch gives Central China negative view

Fitch Ratings said it affirmed Central China Real Estate Ltd.’s B ratings, removed them from rating watch negative and assigned a negative outlook. Last month, Fitch downgraded the issuer and its senior unsecured ratings to B from B+. The recovery rating on its notes remains RR4.

The affirmation and the RWN removal follow CCRE's timely repayment of its $500 million of bonds that matured on Monday, the agency said.

“The negative outlook reflects tight liquidity, weak sales and large capital market debt that matures in 2023,” Fitch said in a press release.

Fitch rates Jaccs bonds AA

Fitch Ratings said it assigned an AA(idn) rating to Jaccs Mitra Pinasthika Mustika Finance Indonesia's series A tranche of Rp 100 billion of 4¾% bonds due August 2023 and series B tranche of Rp 500 billion of 7.4% bonds due Aug. 25, 2025.

“Jaccs Mpmf's bonds are rated at the same level as its national long-term rating, in line with Fitch's criteria, as the bonds represent the company's direct, senior obligations and rank equally with all its other senior obligations,” the agency said in a press release.

The outlook is stable.

© 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.