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S&P alters Powerlong Real Estate view to positive
S&P said it revised the outlook for Powerlong Real Estate Holdings Ltd. to positive from stable and affirmed the company’s B+ rating and the B rating on its senior unsecured notes.
“We revised the outlook on Powerlong to positive because the company may improve its debt-servicing capacity. We forecast the company's debt-to-EBITDA ratio (on a consolidated and proportionate basis) could lower to around or below 5x in the next 12 months. At the same time, we expect the company to continue to expand while maintaining its established market position in the Yangtze River Delta (YRD),” S&P said in a press release.
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