S&P Global Ratings upgraded Ronshine China Holdings Ltd.'s long-term issuer credit rating to B+ from B, with a stable outlook.
The rating agency noted that the upgrade reflects its expectation that the Chinese developer will be able to sustain improvement in its leverage and capital structure.
Meanwhile, the stable outlook reflects Ratings' views that the company will continue to control its leverage and maintain its debt-to-EBITDA ratio below 5.5x over the next 12 months.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.