S&P: Yanlord Land view to positive

S&P said it revised its outlook on Yanlord Land Group Ltd. to positive from stable.

At the same time, the agency affirmed the company’s BB- long-term corporate credit rating and the BB- long-term issue rating on its outstanding senior unsecured notes. It also affirmed the cnBB+ long-term Greater China regional scale rating on Yanlord and the notes.

"We revised the outlook to positive as we expect Yanlord to sustain its improved leverage over the next 12 months and continue to demonstrate satisfactory sales execution and disciplined land acquisitions," S&P credit analyst Dennis Lee said in a news release.

"In our base case, we forecast that Yanlord's debt-to-EBITDA ratio will stabilize at 3.5x–4.0x in the next two years."

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