S&P ups Kerry Properties outlook to positive

Standard & Poor's said it revised its outlook on Kerry Properties Ltd. to positive from stable and affirmed its BBB- long-term corporate credit rating on the company.

At the same time, S&P said it affirmed the BBB- issue rating on senior unsecured debt guaranteed by

Kerry.

The agency noted that the outlook revision reflects its expectation that Kerry's strengthened business profile should provide a good foundation for a sustainable improvement in its financial metrics at a time when the outlook for the Chinese real estate market is softening.

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