trending Market Intelligence /marketintelligence/en/news-insights/trending/dbqgduv_iu8ud0tzzi6uzq2 content esgSubNav
In This List

Fitch upgrades Times China ratings


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Fitch upgrades Times China ratings

Fitch Ratings upgraded Times China Holdings Ltd.'s long-term foreign-currency issuer default rating to BB- from B+, with a stable outlook.

The rating agency also upgraded the real estate developer's senior unsecured rating and the ratings of all its outstanding bonds to BB- from B+.

The ratings action takes into account the company's expanded scale while sustaining a healthy financial profile, according to a note.

Fitch said it believes the company managed to see rapid growth within China's Guangdong province while maintaining its leverage below 40% and EBITDA margin around 20%.