Fitch: Sunshine to positive

Fitch Ratings said it revised Sunshine 100 China Holdings Ltd.’s outlook to positive from stable and affirmed its long-term foreign-currency and local-currency issuer default ratings at B-.

The company’s senior unsecured rating and the ratings on its $215 million 12¾% senior notes due 2017 also were affirmed at B- as well as its recovery rating at RR4.

The positive outlook considers Sunshine’s liquidity improvement and management execution in sales expansion, Fitch said.

Sunshine is likely to benefit from the strategic cooperation with EBA Investments (Advisory) Ltd. and from the looser credit and tax policies for China’s property market in 2015, the agency said.

Sunshine’s relatively tight liquidity position has been much relieved by its diversified funding sources since the fourth quarter of 2014, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.