S&P ups Maoye International

S&P said it raised the long-term issuer credit rating on Maoye International Holdings Ltd. to B from B-.

The outlook is stable.

“We expect Maoye International Holdings Ltd.'s refinancing risk to decrease – supported by both improving cash flow from rental income and property sales as well as multiple liquidity resources,” S&P said in a news release.

“Although the company's debt remains high, we believe Maoye's debt leverage is likely to gradually improve under the company's deleveraging effort.”

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