S&P lifts Guangzhou R&F view to stable

Standard & Poor's said it revised the outlook on Guangzhou R&F Properties Co. Ltd. to stable from negative.

The agency also said it affirmed the company’s B+ long-term corporate credit rating.

As a result of the outlook revision, S&P also said it raised the long-term Greater China regional scale rating on the company to cnBB from cnBB-.

The outlook revision reflects an expectation of liquidity improvement over the next 12 months based on the company's concrete fundraising plan, S&P said.

The opening up of China's onshore bond market has greatly improved the company’s access to new funding and alleviated the pressure on its liquidity, the agency said.

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