Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for KWG Group Holdings Ltd. > News item |
Fitch lowers KWG to B, remains on watch
Fitch Ratings said it downgraded Chinese homebuilder KWG Group Holdings Ltd.’s long-term foreign-currency issuer default rating to B from B+ and senior unsecured rating to B from B+, with the recovery ratings remaining at RR4.
The ratings remain on Rating Watch negative.
“The downgrade follows declining liquidity and financial flexibility amid high capital-market volatility, and the increase in KWG's leverage to above 50%, the level at which Fitch would consider negative rating action,” Fitch said in a news release.
“The Rating Watch negative reflects uncertainty over the company's near-term offshore refinancing plan.”
© 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.