Moody’s assigns Yincheng B2

Moody’s Investors Service said it assigned a first-time B2 corporate family rating to Yincheng International Holding Co., Ltd.

“Yincheng’s B2 CFR reflects the company’s long track record and well-recognized brand as a residential property developer in Nanjing, Jiangsu Province,” said Danny Chan, a Moody’s assistant vice president and analyst, in a press release.

“We expect that the company’s quality land bank in its core cities of Nanjing, Suzhou and Hangzhou, and its mass-market business model, will support its contracted sales over the next 12-18 months,” Chan said.

The outlook is stable.

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