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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

  • Published: 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 READ MORE >

- Greentown China Holdings Ltd.

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