Fitch rates Central China Real Estate notes BB-

Fitch Ratings said it assigned an expected BB- rating to Central China Real Estate Ltd.'s proposed Singapore-dollar senior notes due 2020.

The notes are rated at the same level as Central China's senior unsecured rating because they constitute its direct and senior unsecured obligations, Fitch said.

The ratings are supported by the company's competitive position as a real estate developer in China's Henan province with broad housing-product diversification and a growing non-property development business from rental properties and project management, the agency said.

The ratings also are supported by the company's healthy financial profile with low leverage of about 20% at year-end 2017, Fitch said.

The agency said it believes Central China Real Estate's track record supports its plan to raise the market share in Henan to 10% to 15% in the next three- to five-years.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.