trending Market Intelligence /marketintelligence/en/news-insights/trending/92fX9w5BdGvAmBkruJmKJg2 content esgSubNav
In This List

Fitch affirms Sunac China's ratings

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Fitch affirms Sunac China's ratings

Fitch Ratings affirmed Sunac China Holdings Ltd.'s long-term foreign-currency issuer default rating at BB, with a stable outlook.

The rating agency said Sept. 23 that it also affirmed the Chinese real estate developer's senior unsecured rating and the ratings on its outstanding senior notes at BB.

Fitch expects Sunac to continue deleveraging until it has increased headroom below 40% for a sustained period. The developer is looking to control its land acquisitions and investments in the second half. The company's leverage was maintained at around 39% in the first half. The agency expects the company to control land acquisition and allow some headroom below the 40% leverage ratio.

Other key drivers supporting the company's rating include its diversified land bank, strong sales and margins and non-property development contribution.