Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hydoo International Holding Ltd. > News item |
Fitch affirms Hydoo
Fitch Ratings said it affirmed Hydoo International Holding Ltd.'s long-term foreign-currency issuer default rating at B- with a stable outlook.
Fitch also affirmed Hydoo's senior unsecured rating and the rating on its outstanding dollar senior unsecured notes at B- with a recovery rating of RR4.
“Hydoo's ratings are supported by sustained low leverage with adequate liquidity on controlled construction and land acquisitions, but are constrained by its weak business profile due to its small business scale, low non-development income and sluggish trade-centre demand,” the agency said in a news release.
“The increasing proportion of residential property sales and healthy gross profit margins may mitigate its weak business profile.”
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.