trending Market Intelligence /marketintelligence/en/news-insights/trending/qxznnolxrzl0qqcjj8pwmw2 content esgSubNav
In This List

S&P Global affirms China Overseas Grand's ratings, revises outlook to stable

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Blog

Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback

Infographic

Infographic: The Big Picture 2023 Sustainability Outlook

Blog

The Big Picture for 2023: Assessing Investment Trends and the Impact of Investor Activism


S&P Global affirms China Overseas Grand's ratings, revises outlook to stable

S&P Global Ratings affirmed China Overseas Grand Oceans Group Ltd.'s BBB- long-term corporate credit rating and its BBB- long-term issue rating on the senior unsecured notes, and revised the outlook on the Chinese real estate developer to stable from negative.

The affirmation is in light of strong support for the company by its parent and its established market position in the lower-tier cities in China. The developer is projected to continue with margin recovery in 2018 due to property sales, while its revenue is expected to be driven during the year from the sales.

S&P noted that the outlook on the ratings was revised to stable on the back of the rating agency's expectation that the company will lower its leverage in 2018, supported by its recovering margins, revenue growth and a HK$4.66 billion rights offering.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.