S&P changes Agile view to stable, cuts notes to BB-

S&P said it affirmed its BB long-term issuer credit rating on Agile Group Holdings Ltd. and lowered the long-term issue rating on the company's senior notes to BB- due to an increase in priority debt.

“The stable outlook on Agile reflects our view that the company will remain disciplined in land acquisitions and other capital spending on its non-property development segments over the next 12 months. We also expect the company to achieve moderate sales growth, supporting steadily increasing revenue recognition with largely stable margins such that its leverage stays at its improved level,” S&P said in a news release.

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