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Bulletin: Lai Fung Holdings Ltd. Rating Not Immediately Affected By New Investment Plan In Hengqin Sep 11
Standard & Poors, September 2011
HONG KONG (Standard & Poor's) Sept. 20, 2011--Standard & Poor's Ratings Services said today that its rating on Lai Fung Holdings Ltd. (B+/Negative/--; cnBB-/--) is not immediately affected by the company's plan to develop a cultural city project in Guangdong province, China. The proposed transaction is at a preliminary stage. We will assess the likely impact of the project when more details are available. Given the large scale of the project relative to Lai Fung's asset size, the impact on its capital structure and liquidity could be material. Execution risk would also be high, given Lai Fung's limited record of developing such large and complex projects, and its small capital base. The company estimates the total investment for the project,...
Companies mentioned in this report are: Lai Fung Holdings Ltd.
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Lai Fung Holdings Ltd.