Evergrande Real Estate Group Ltd. May 11
- ID: 1810587
- May 2011
- Standard & Poors
Aggressive growth appetite and debt-funded expansion Short operating and financial management track record Cyclical and competitive industry with evolving regulations Large, low cost, geographically diversified land bank Competitively priced products; good cost controls Large scale; good execution due to standardized operations 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-...
Companies mentioned in this report are: Evergrande Real Estate Group Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis