trending Market Intelligence /marketintelligence/en/news-insights/trending/C3m2FJ_3wzMSGS0Sra5xnQ2 content esgSubNav
In This List

Fitch affirms Redco Properties rating

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Fitch affirms Redco Properties rating

Fitch Ratings affirmed Redco Properties Group Ltd.'s long-term foreign currency issuer default rating at B, with a stable outlook.

The rating agency noted that the company has kept a healthy financial profile, with its leverage at 7.4% at the end of 2016 and its EBITDA at 14.8%. In addition, Fitch Ratings believes the company is transitioning to a "fast-churn model," which will lead to faster sales with relatively lower margins.

Fitch said it will consider a positive ratings action for the company if it can increase its scale and land bank without "significantly" compromising leverage.