Fitch cuts China South City outlook to stable

Fitch Ratings said it affirmed China South City Ltd.'s long-term issuer default rating and senior unsecured rating of B+ and recovery rating of RR4.

The outlook for the issuer default rating has been revised to stable from positive.

The outlook revision reflects slower sales momentum and higher leverage as development activities increase to expand its business scale, the agency said.

The slower sales have also delayed the company’s diversification efforts, Fitch noted.

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