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: Outlook: Negative
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