- Language: English
- Published: November 2011
Summary: Evergrande Real Estate Group Ltd. May 11
- Published: May 2011
- Standard & Poors
The rating on Evergrande Real Estate Group Ltd. reflects the company's volatile and weak credit ratios, its aggressive growth and debt appetite, and its short operating and financial management track record. The company's operating environment, which is cyclical and competitive with evolving regulations, also constrains the rating. These weaknesses are tempered by the company's large, low-cost, and geographically diversified land bank, competitively priced products, and good execution because of standardized operations. Evergrande develops large-scale residential housing projects in second- and third-tier cities, and has a nationwide presence in China. A key risk factor is that Evergrande is still on the acquisition trail despite holding huge land reserves and increasing its debt level. In January 2011, the company launched a RMB9.25...
Companies mentioned in this report are: Evergrande Real Estate Group Ltd.
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Evergrande Real Estate Group Ltd.