Moody's: Evergrande unaffected

Moody's Investors Service said that Evergrande Real Estate Group Ltd.'s 2011 full-year results are generally in line with Moody's expectations and have no immediate effect on its B1 corporate family rating or B2 senior unsecured ratings.

The outlook remains negative.

"Evergrande's business strategy of focusing on the lower tier cities has benefited its sales. Its revenue grew 31.9% year over year to RMB 60.4 billion in 2011," Moody's assistant vice president and analyst Kaven Tsang said in a news release.

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