S&P might cut Wanda Commercial

Standard & Poor's said it placed its BBB long-term corporate credit rating and cnA- long-term Greater China regional scale rating on Wanda Commercial Properties (Hong Kong) Co. Ltd. on CreditWatch with negative implications.

At the same time, the agency placed its BBB- long-term issue rating and cnBBB+ Greater China regional scale rating on the company's guaranteed outstanding senior unsecured notes on CreditWatch with negative implications.

S&P said it placed the ratings on CreditWatch after a similar rating action on the company's parent Dalian Wanda Commercial Properties Co. Ltd. (Wanda Commercial: BBB+/Watch Neg/--; cnA+/Watch Neg/--) earlier on Jan. 22.

The agency placed the parent company on CreditWatch negative because its leverage could further deteriorate over the next 12 months if debt is higher and property sales are weaker than S&P expected in its base-case scenario.

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