E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 7/29/2010 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

Fitch affirms Shimao

Fitch Ratings said it affirmed Shimao Property Holdings Ltd.'s long-term foreign currency issuer default rating at BB+.

The outlook is stable.

At the same time, Fitch said it affirmed Shimao's foreign currency senior unsecured rating at BB+.

"The rating affirmation reflects Shimao's improved liquidity following the issuance of $500 million of senior notes due 2017 and the company's ability to secure long-term debt financing at a reasonable cost, despite uncertainties surrounding China's residential property sector," said Ying Wang, director in Fitch's Asia-Pacific corporates team.


© 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.