Fitch revises Sunac outlook to positive

Fitch Ratings said it revised Sunac China Holdings Ltd.’s outlook to positive from stable and affirmed its long-term foreign-currency issuer default rating, senior unsecured rating and the ratings on its outstanding senior notes at BB.

“The positive outlook reflects Fitch's view that leverage, measured by net debt/adjusted inventory adjusted for proportional consolidation of joint ventures (JV) and associates, may be sustained below 30%, the level at which we may upgrade the rating,” Fitch said in a news release.

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