S&P revises Swire Pacific view to stable

S&P said it revised the outlook to stable from negative on Swire Pacific Ltd. and affirmed the A- long-term issuer credit rating on the company and the A- long-term issue rating on the company's guaranteed senior unsecured notes.

“We revised the outlook on Swire Pacific to stable because we expect the company's leverage to improve significantly over the next 12 to 24 months. The company's asset disposals over the past year and steady earnings recovery should enable it to deleverage to a debt-to-EBITDA ratio of 4.8x-5.0x in 2018 and 3.9x-4.2x in 2019,” S&P said in a news release.

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