S&P trims Yida China view to negative

S&P said it revised the outlook on Yida China Holdings Ltd. to negative from stable.

S&P also affirmed its B long-term issuer credit rating on Yida and the B- long-term issue rating on the developer's senior unsecured notes.

“We revised Yida's outlook to negative due to the company's very tight liquidity and deteriorating leverage. Yida may also encounter project-execution risk as it expands into new regions outside of its home market of Dalian,” S&P said in a news release.

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