[ET Net News Agency, 25 March 2020] S&P Global Ratings revised its outlook on Red Star
Macalline Group Corp. Ltd. (01528) to negative from stable and affirmed its 'BB+'
long-term issuer credit rating on the company. The credit rating agency also affirmed its
'BB' long-term issue rating on the company's guaranteed senior unsecured notes.
The negative outlook reflects S&P's expectation that the outbreak is testing the
stability of Red Star's recurring income. The issuer's strong market position may see its
income rebound quickly if consumer confidence is swiftly restored.
S&P expects Red Star to maintain its position as the largest retail chain operator in
China's home improvement and furnishing industry, underpinning its ability to recover from
this slump.
The key question is whether the issuer can manage the demand shock and maintain income
stability. Recent signs that the COVID-19 outbreak is contained in China suggest that its
operating performance may rebound. (KL)
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01528 RS MACALLINE
Nominal 
1.390 0.000 (0.000%) Others
25/03/2020 17:20
RS Macalline's outlook revised to negative; "BB+" affirmed
| Remark: | Real time quote last updated: 19/04/2024 08:45 |
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