Fitch: Shanghai Zendai stable

Fitch Ratings said it revised Shanghai Zendai Property Ltd.'s outlook to stable from negative.

The long-term foreign-currency issuer default rating and senior unsecured ratings are affirmed at B, respectively.

The agency said the outlook revision and affirmation follow Shanghai Zendai's repayment of $150 million fixed rate notes.

Fitch said that following the redemption of the notes, the company still has sufficient liquidity to meet its bank loans due in 2012 and construction costs for its ongoing diversified commercial and residential properties.

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