S&P ups China South City

S&P said it upgraded China South City Holdings Ltd. to B from B- and its senior unsecured notes to B-from CCC+.

“We raised the rating because CSC's shift to fast-churn property sales is having positive operating and financial effects. We believe that CSC is now better positioned to maintain a satisfactory scale and sustainable sales inflow from multipurpose commercial properties and residential projects over the next two years,” S&P said in a press release.

The outlook is stable.

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