S&P rates Fantasia Holdings notes B+

Standard & Poor's said it assigned a BB- long-term corporate credit rating to Fantasia Holdings Group Co. Ltd., and assigned a B+ issue rating to its proposed dollar-denominated fixed-rate senior unsecured notes. The rating is contingent upon receipt of final documents.

The outlook is stable.

The rating reflects the execution risk associated with the company's transformation into a larger-scale and geographically more diversified property developer from a small base, S&P said.

Fantasia's strategy of developing boutique high-end residential property and enter new geographical markets has high execution risks, S&P said.

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