Moody's: SPG Land unchanged

Moody's Investors Service said there is no immediate impact on SPG Land (Holdings) Ltd.'s Ba3 corporate family rating and provisional B1senior unsecured rating after the resignation of the property company's chief executive officer.

The outlook remains stable.

The provisional status will be removed after SPG Land has completed the dollar-denominated issuance, Moody's said.

The resignation is not expected to have any immediate impact on SPG Land's ratings given that the near-term business fundamentals of the company remain unchanged, the agency said.

The successful execution of its business plan while maintaining financial discipline are the company's core rating drivers as it expands throughout China's property cycle, Moody's said.

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