S&P affirms Yuexiu REIT

S&P said it affirmed the BBB- corporate credit rating on Yuexiu Real Estate Investment Trust and affirmed the BBB- long-term issue ratings on the company's outstanding senior unsecured notes.

The outlook is stable.

“We affirmed the rating on Yeuxiu REIT because we believe the impact on leverage from a planned acquisition will be temporary,” the agency said in a news release.

“We expect Yuexiu REIT to deleverage over the next six months, due to organic growth and in line with a corporate asset disposal plan.”

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