S&P changes Logan Property view to positive

S&P said it revised its outlook on Logan Property Holdings Co. Ltd. to positive from stable.

At the same time, the agency affirmed the BB- long-term issuer credit rating and on the company and the B+ long-term issue rating on the company's outstanding senior unsecured notes.

“We revised the outlook to reflect our view that Logan's leverage will improve over the next 12-18 months amid further strengthening of the company's business position,” S&P said in a news release.

“Solid revenue growth, good cash collection and higher-than-average margins will drive this trend. We also expect Logan to replenish its China land bank in a disciplined manner, with moderate debt growth relative to the company's scale and growth history.”

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