S&P rates Sino-Ocean Land notes BBB-/cnA-

Standard & Poor's said it assigned its BBB- long-term corporate credit rating and cnA- long-term Greater China regional scale rating to Sino-Ocean Land Holdings Ltd.

The outlook is stable.

The agency also assigned its BBB- long-term issue rating and cnA- long-term Greater China regional scale rating to the proposed dollar-denominated fixed-rate notes that Sino-Ocean Land unconditionally and irrevocably guarantees.

"The rating on SOL reflects the company's average scale in comparison with its peers, satisfactory market position, and fair track record and operating efficiency," S&P credit analyst Cindy Huang said in a news release.

"The company's growing recurring income from investment properties supports its competitive position. SOL's moderately high geographic concentration, below-average profitability, and high financial leverage temper these strengths."

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