[ET Net News Agency, 9 August 2019] S&P Global Ratings expects Ronshine China Holdings
Ltd. (03301) to continue to control its financial leverage, following a significant
improvement over the past 18 months, driven by management's desire for more stable growth.
The company's risk resilience and liquidity profile have also improved with a lengthened
debt maturity profile and a more balanced debt mix, said the credit rating agency.
S&P raised its long-term issuer credit rating on Ronshine to 'B+' from 'B'. It also
raised the long-term issue rating on the China-based developers' outstanding senior
unsecured notes to 'B' from 'B-'.
The stable outlook reflects S&P's expectation that Ronshine will continue to expand its
sales and control its leverage such that its see-through debt-to-EBITDA ratio after
proportionally consolidating joint ventures (JVs) is likely to be below 5.5x in the next
12 months. (KL)
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03301 RONSHINECHINA
Nominal 
0.170 0.000 (0.000%) Research Report
09/08/2019 14:54
Ronshine China (03301) upgraded to "B+"; outlook stable
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