[ET Net News Agency, 26 July 2019] S&P Global Ratings revised its outlook on China
South City Holdings Ltd. (CSC)(01668) to positive from stable to reflect improving
leverage despite relatively tight liquidity.
At the same time, the credit rating agency affirmed its "B-" long-term issuer credit
rating on CSC and its 'CCC+' long-term issue rating on the company's outstanding senior
unsecured notes.
It said marked improvements in CSC's leverage should continue, driven by steady
contracted sales growth, controlled land acquisitions, and growing recurring income.
S&P also expects liquidity to mildly improve as the company pays down short-term debt
and refinances with longer-tenor debt via pledges of investment properties. (KL)
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01668 CHINASOUTHCITY
Nominal 
0.130 +0.001 (+0.775%) Research Report
26/07/2019 14:45
China South City's (01668) outlook revised to positive - S&P
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