S&P: China Resources view to positive

Standard & Poor's said it revised the outlook on China Resources Land Ltd. (CR Land) to positive from stable.

At the same time, the agency affirmed its BBB long-term corporate credit rating on the company and the BBB issue rating on its outstanding senior unsecured notes.

As a result of the outlook revision, S&P raised the long-term Greater China regional scale rating on CR Land and the notes to cnA+ from cnA.

"We revised the outlook because we anticipate that CR Land will significantly increase its portfolio of investment properties over the next 12-24 months, boosting its recurring income," S&P credit analyst Bei Fu said in a news release.

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