Fitch affirms Yuzhou Properties

Fitch Ratings said it affirmed Yuzhou Properties Co. Ltd.'s long-term foreign-currency issuer default rating at BB-.

The outlook is stable.

The agency also affirmed Yuzhou's senior unsecured rating and the ratings on its outstanding dollar-denominated bonds at BB-.

“Yuzhou's ratings are supported by strong contracted sales growth and regional diversification,” Fitch said in a news release.

“The company has a good-quality low-cost land bank, which upholds its favourable margin compared with peers.”

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