Standard & Poors Ratings Services raised its long-term corporate credit rating and outstanding senior unsecured notes on China-based real estate company Kaisa Group (1638.HK) to BB-. The outlook is stable.
S&P upgraded Kaisa primarily due to the Company’s operating scale has grown significantly, and the Company is likely to manage its balance sheet leverage with caution over the next 12 months. S&P expected that Kaisa can maintain its good sales execution and sufficient liquidity, and slightly improve its profitability over the next 12 months.
In addition, S&P also raised long-term Greater China regional scale ratings on the Company and the notes to cnBB+.
