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<CN Home>S&P Global Reaffirms B- Credit Rating on CHINA VANKE, Removes Stock from CreditWatch List
Recommend 4 Positive 4 Negative 11 |
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S&P Global Ratings' report reaffirmed CHINA VANKE (02202.HK)'s long-term issuer rating of B-, with a Negative outlook, and removed the stock from the CreditWatch List. The group's annual contract sales were expected to subside 40% YoY to RMB146 billion, and the group's operating cash flow was anticipated to barely break even. To maintain liquidity, the rating agency assumed the company will continue to make minimal land purchases over the next year, which will undermine its competitive position. Major shareholder Shenzhen Metro has provided nearly RMB15 billion in loans since the beginning of the year, which the agency believed has been used to repay some bonds. AASTOCKS Financial News Website: www.aastocks.com |
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