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S&P revises Future Land outlook to positive

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S&P revises Future Land outlook to positive

S&P Global Ratings revised its outlook on Future Land Development Holdings Ltd. to positive from stable.

The rating agency also affirmed the company's BB- long-term corporate credit rating and the B+ long-term issue rating on its outstanding senior unsecured notes.

The outlook revision reflects S&P Global Ratings' expectation that the company will improve its end-market diversity and scale expansion in the next 12 months as it transforms into a large-scale property developer in China due to its strong sales performance in 2017. Future Land's profitability is anticipated to improve over the next two years, according to S&P Global Ratings.

The rating agency also view that the company will maintain its sales, high growth and profitability over the next 12-18 months, while it continues to manage its see-through debt leverage.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.