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Published on 2/26/2016 in the Prospect News Emerging Markets Daily.

S&P lowers Yuexiu REIT view to negative

Standard & Poor’s said it revised the outlook on Yuexiu Real Estate Investment Trust to negative from stable.

The agency also said it affirmed the company’s BBB long-term corporate credit rating, along with the BBB long-term issue ratings its guaranteed medium-term notes program and outstanding senior unsecured notes.

In line with the outlook revision, S&P also said it lowered the long-term Greater China regional scale ratings the company, its notes program and the notes to cnA- from cnA.

The company’s leverage is expected to remain weak over the next 12 months, the agency said, and it is yet to firm up its de-leveraging plan as previously expected.


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