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Research Update: Greentown China Holdings Ltd. Rating Lowered To 'B-' From 'B' On Weakening Liquidity; Outlook Negative Jan 12 Product Image

Research Update: Greentown China Holdings Ltd. Rating Lowered To 'B-' From 'B' On Weakening Liquidity; Outlook Negative Jan 12

  • ID: 2042292
  • January 2012
  • Region: China
  • Standard & Poors

Abstract
China-based real estate developer Greentown's liquidity will remain weak for the next 12 months, in our opinion. We are lowering our long-term corporate credit rating on Greentown to 'B-' from 'B' and the issue rating on the company's notes to 'CCC+' from 'B-'. We are also lowering the Greater China credit scale rating on Greentown to 'cnB-' from 'cnB+' and on the notes to 'cnCCC+' from 'cnB'. The negative outlook reflects our expectation that the company's financial performance will remain weak. On Jan. 20, 2012, Standard & Poor's Ratings Services lowered its long-term corporate credit rating on China-based property developer Greentown China Holdings Ltd. to 'B-' from 'B'. The outlook is negative. At the same time, we lowered the issue...

Companies mentioned in this report are:
- Greentown China Holdings Ltd.

Action: Downgraded
Action: Outlook: Negative

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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