S&P changes Longfor view

S&P said it revised the outlook on Longfor Properties Co. Ltd. to positive from stable and affirmed the BBB- long-term corporate credit rating.

The agency also affirmed the BB+ issue rating on the company's outstanding senior unsecured notes.

S&P said the positive outlook reflects a view that Longfor's debt leverage will continue to improve and stabilize over the next two years.

“During the same period, we project that the company's recurring rental income will continue to strengthen, underpinned by new mall openings and positive rental reversion (or higher rents on expiry of leases),” the agency said in a news release.

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