More Downgrades Are Likely For Chinese Developers Amid Asia Property Downturn, Says S&P Report Mar 12
- Language: English
- Published: March 2012
- Region: Asia, China
Among Asia's real estate companies, Chinese developers appear closest to their pain thresholds. Stiff competition and tightening regulations in China have contributed to unsold inventory, stifled profits, and strained liquidity over the past few months. While the government may somewhat relax its reins this year, cash-strapped companies will still struggle. One significant problem: rising refinancing risks. In view of the harsh conditions, Standard & Poor's Ratings Services stands by its negative outlook for China's property sector. We believe Chinese companies will likely face more downgrades over the next six months. Developers elsewhere in the region will also find the going tough to varying degrees. Macroeconomic and industry factors in each Asia market will support or undermine rating performances. Over the...
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