Moody's rates Gemdale CFR Ba1

Moody's Investors Service said it assigned a Ba1 corporate family rating to Gemdale Corp.

The outlook is stable.

"Gemdale's Ba1 corporate family rating reflects its established track record in China's property market. The company demonstrated resilience to the economic down cycles in both 2008 and 2011," Moody's vice president and senior analyst Kaven Tsang said in a news release.

"The rating also reflects Gemdale's good access to funding and its flexibility in managing its funds. It is one of the few Chinese developers that can raise unsecured loans at the corporate level. This allows it the flexibility to invest the surplus liquidity in its projects according to business plan," Tsang added in the release.

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