Fitch gives Sunac notes BB-

Fitch Ratings said it has assigned Sunac China Holdings Ltd.'s (BB-/stable) $400 million of 12Ω5% notes due 2017 a final rating of BB-.

The notes are rated at the same level as Sunac's to reflect that they represent direct, unconditional, unsecured and unsubordinated obligations of the company, the agency said.

According to Fitch, Sunac's ratings are supported by its strong housing presales performance and its increased business scale in the Chinese housing market. The ratings are constrained by Sunac's limited geographical diversification and product mix.

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