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Bulletin: Possible Sale Of Shanghai Zendai Property Ltd.'s Interest In Bund Project Would Boost Its Liquidity Dec 11
Standard & Poors, Dec 2011
Abstract
HONG KONG (Standard & Poor's) Dec. 30, 2011--Standard & Poor's Ratings Services said today that its rating and outlook on Shanghai Zendai Property Ltd. (B-/Negative/--; cnB-/--) are not affected by a possible sale of the company's interests in a Shanghai Bund project to SOHO China Ltd. If the transaction materializes, we will analyze the improvement in Shanghai Zendai's financial risk profile and consider any appropriate rating action after: (1) conditions for the deal, including completion of due diligence, are fulfilled; and (2) we obtain sufficient information regarding sales prospects, given current weak market sentiment, and the company's refinancing strategy. In our view, the transaction, if completed, would strengthen Shanghai Zendai's liquidity. We believe the company's cash proceeds of about Chinese...
Companies mentioned in this report are: Shanghai Zendai Property 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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