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S&P withdraws ratings for Guorui Properties

S&P Global Ratings withdrew its ratings for Guorui Properties Ltd. at the request of the Chinese property company.

Guorui Properties had a CCC+ issuer credit rating and a CCC long-term issuer rating for its senior unsecured notes at the time of the withdrawal. At the same time, the rating agency's outlook for the company was negative.

S&P noted that its rating and outlook for the real estate developer prior to the withdrawal reflected its view that the company's considerable near-term debt maturities and small cash balance might result in liquidity.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.