Moody's: KWG unaffected

Moody's Investors Service said that KWG Property Holding Ltd.'s slightly weaker-than-expected financial results for the first half will not affect its Ba3 issuer rating and B1 senior unsecured rating.

The outlook remains stable.

"KWG's stable contract sales performance, cautious land acquisitions strategy, improved debt maturity profile and liquidity position as a result of a $400 million bond issuance in March this year continue to support its Ba3 issuer rating," Franco Leung, a Moody's assistant vice president, said in a statement.

KWG's further debt capacity will be limited, however, as its credit metrics weaken in the next 12 to18 months, Leung added.

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