S&P Global Ratings affirmed Hysan Development Co. Ltd.'s long-term issuer credit rating at BBB+, with a stable outlook.
The rating agency said Sept. 16 that the affirmation reflects its view that the property company will maintain its good market position and continue to generate stable cash flow from its high-quality assets.
The stable outlook on Hysan Development reflects Ratings' expectation that the company will maintain its solid market position in Hong Kong's Causeway Bay area and generate steady earnings in the next 12 to 24 months. Hysan Development's high location concentration will continue to constrain its business risk profile, the rating agency added.
The rating agency said it expects Hysan Development to moderately increase its debt leverage to fund potential property projects and asset enhancement initiatives while also maintaining its prudent financial management and remaining disciplined in evaluating acquisitions and development.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.
