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Bulletin: Franshion Properties (China) Ltd. Rating Unaffected By Weaker-Than-Expected Interim Financial Results Aug 11
Standard & Poors, Aug 2011
Abstract
HONG KONG (Standard & Poor's) Aug. 24, 2011--Standard & Poor's Ratings Services said today that the rating and outlook on Franshion Properties (China) Ltd. (BBB-/Stable/--; cnA-/--) are not affected by the company's first-half 2011 financial results, which were weaker than we had expected. Franshion's contract sales and the performance of its investment property portfolio are in line with our expectation. However, the increase in Franshion's debt is much higher than we had expected, although we note that this is partly due to the company's intention to increase its liquidity buffer. We anticipate that Franshion's credit ratios will likely be weaker than our base-case scenario for 2011 due to higher-than-expected debt. The company's credit profile could remain weak for the current...
Companies mentioned in this report are: Franshion Properties (China) Ltd.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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