Fitch revises Guorui view to negative

Fitch Ratings said it revised the outlook on Guorui Properties Ltd. to negative from stable and affirmed the long-term foreign-currency issuer default rating at B-. The senior unsecured rating and the ratings on its outstanding notes are also affirmed at B-, with a recovery rating of RR4.

The revision reflects Guorui's sustained weak liquidity position and the likelihood of the company having difficulties meeting its obligations later this year as its $455 million senior notes due February 2022 become puttable in February 2021.

© 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.