S&P: China Jinmao view to stable

S&P said it revised its outlook on China Jinmao Holdings Group Ltd. to stable from negative and affirmed the BBB- long-term corporate credit rating and the BBB- long-term issue rating on the company's outstanding guaranteed senior unsecured notes.

“We revised the outlook on Jinmao to stable because we expect the company to expand its business in a controlled manner over the next two years and maintain a balanced business mix, above-average profitability, and sound financial management,” the agency said in a news release.

“We affirmed the ratings on Jinmao to reflect the company's better business diversity than peers', stronger ongoing support from parent Sinochem Group, and stable leverage over the next two years.”

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