Fitch gives Sunac notes BB

Fitch Ratings said it gave a BB rating to Sunac China Holdings Ltd.’s proposed dollar-denominated senior notes.

“The proposed notes are rated at the same level as Sunac’s senior unsecured rating because they will constitute its direct and senior unsecured obligations,” Fitch said in a press release.

“Fitch expects Sunac to decrease leverage as it has continued to increase contracted sales scale while maintaining credit metrics,” the agency said in a press release.

The outlook is stable.

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