S&P gives China Properties notes B-

Standard & Poor's said it assigned its B- long-term issue rating and cnB long-term Greater China regional scale rating to a proposed issue of Chinese renminbi-denominated senior unsecured notes by China Properties Group Ltd. (B-/stable/--; cnB/--).

The company intends to use the issuance proceeds for expansion, refinancing and general working capital purposes.

S&P said the rating on China Properties reflects the company's very limited number of projects, significant execution risks, and "weak" liquidity, as criteria define the term.

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