S&P revises KWG Property to stable

Standard & Poor's said it revised its outlook on KWG Property Holding Ltd. to stable from negative and affirmed the BB- long-term corporate credit rating and B+ long-term issue rating senior unsecured notes rating.

As a result of the outlook revision, the agency raised its long-term Greater China regional scale rating on KWG to cnBB+ from cnBB and on the notes to cnBB from cnBB-.

"We revised the outlook to reflect our expectation that KWG's sales execution will improve in 2015 owing to slightly better market conditions, and its profitability and liquidity will remain solid," S&P credit analyst Matthew Kong said in a news release.

"However, we expect KWG's significant ongoing construction requirements to keep its consolidated leverage high over the next 12 months."

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