S&P affirms Fosun

S&P said it affirmed its BB long-term issuer credit rating on Fosun International Ltd.

The outlook is stable.

At the same time, the agency affirmed the BB long-term issue rating on the outstanding guaranteed notes issued by the company's financing platform, Wealth Driven Ltd. and Fortune Star (BVI) Ltd.

“We affirmed the ratings to reflect our view that Fosun will sustainably grow with a balanced investment and divestment strategy,” S&P said in a news release.

“We also expect the company to maintain a loan-to-value (LTV) ratio of 30%-40% over the next two years.”

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