Fitch turns Times China view to negative

Fitch Ratings said it changed Times China Holdings Ltd.'s outlook to negative from stable and affirmed the long-term issuer default rating at BB-. The agency also affirmed the homebuilder's senior unsecured rating at BB-.

Fitch also removed all the ratings from under criteria observation, on which they were placed on Oct. 20, following the publication of its updated corporate rating criteria.

“The negative outlook reflects Fitch's concern that Times China has high exposure to non-controlling interests (NCIs), and uncertainty on whether Times China can control the NCI exposure and deleverage,” Fitch said in a press release.

© 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.