Fitch rates Logan Property notes BB-

Fitch Ratings said it assigned an expected BB- rating to Logan Property Holdings Co. Ltd.'s proposed dollar-denominated senior notes.

The notes are rated at the same level as Logan's senior unsecured rating because they constitute its direct and senior unsecured obligations, Fitch said.

The ratings are supported by the company's well-located land bank in Shenzhen and the Guangdong region, which provides the company with stronger contracted sales and margin visibility over the next 18 months, the agency said.

Fitch said it believes Logan's well located and high quality land bank, along with its expansion in new cities, mitigate its concentration risks over the next year or two.

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