S&P rates Midea A-

Standard & Poor’s said it assigned an A- long-term corporate credit rating to Midea Group Co. Ltd., along with a cnAA long-term Greater China regional scale rating.

The outlook is stable.

The ratings reflect a view that the company will maintain its strong market position, good profitability and robust cash flows over the next 12- to 24-months, S&P said.

The company’s concentration in China’s highly competitive home appliance market, lower product diversity and weaker brand awareness than global peers in the overseas markets temper these strengths, the agency said.

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