S&P affirms Golden Wheel Tiandi

S&P said it affirmed the B long-term corporate credit rating on Golden Wheel Tiandi Holdings Co. Ltd.

The outlook is negative.

The agency said it affirmed the rating because it expects the company’s cash flows and revenue recognition to improve over the next 12-24 months on the back of better project execution and delivery.

However, given the company's high project concentration risk due to its fewer projects compared with similar-rated peers, the revenue recognition and financial metrics can easily be affected by the completion of projects, S&P added.

© 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.