Fitch rates Sunriver B

Fitch Ratings said it assigned a long-term issuer default rating of B to Sunriver Holdings Group Co., Ltd., along with a senior unsecured rating of B with recovery rating of RR4.

The ratings are supported by the company's competitive position as a real estate developer in Anhui province with earnings diversification through the tourism and infrastructure construction businesses, Fitch said.

Its improving sales and profit margin provide support to its ratings, which are constrained by its current small business scale, regional concentration and high leverage, the agency said.

The company's financial profile remains under pressure over the next two years as the company plans to rapidly expand its tourism business, Fitch added.

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