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01918 SUNAC
RTNominal up14.500 +0.780 (+5.685%)
Research Report

16/03/2021 17:52

Sunac China lifted to "BB" on enhanced financial discipline

[ET Net News Agency, 16 March 2021] S&P Global Ratings today raised its long-term
issuer credit rating on Sunac China Holdings Ltd. (01918) to 'BB' from 'BB-'. The credit
rating agency also raised the long-term issue rating on the company's outstanding senior
unsecured notes to 'BB-' from 'B+'.
Sunac's improved financial prudence, strong revenue growth, and greater discipline in
land acquisitions have reduced its financial risks, S&P noted.
It expects the China-based developer to continue to deleverage over the next 12-24
months through solid revenue recognition and more prudent debt-financed expansion.
The stable outlook reflects S&P's view that Sunac will moderate its growth in contracted
sales, such that the ratio of debt to EBITDA stays at 4x-5x over the next 12-18 months.
(KL)

Remark: Real time quote last updated: 17/09/2021 16:09
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