S&P changes Midea view to positive

S&P said it revised its outlook for Midea Group Co. Ltd. to positive from stable and affirmed its A- issuer rating.

“Increased sales of proprietary brands should enhance Midea’s competitiveness. The company’s revenue contribution from proprietary brands has risen to more than 70% of the total, from about 60% three years ago,” the agency said in a press release.

The outlook reflects the firm’s strengthening market position and likely strong operating performance over the next 12 months, S&P said.

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