trending Market Intelligence /marketintelligence/en/news-insights/trending/vtVAA1KPZb-tUUEfCgEGeA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Moody's assigns rating to China Fortune Land

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Moody's assigns rating to China Fortune Land

Moody's assigned a first-time Ba3 corporate family rating to China Fortune Land Development Co. Ltd., with a stable outlook.

The rating agency said Jan. 6 that it also assigned a Ba3 senior unsecured rating to the proposed U.S. dollar notes to be issued by CFLD (Cayman) Investment Ltd., an indirect wholly owned subsidiary of the Chinese real estate developer.

China Fortune Land's rating reflects its standalone credit strength and a one-notch rating uplift, reflecting the agency's assessment that Ping An Life Insurance Co. of China Ltd., the company's second-largest shareholder with a 25.16% stake, could support the developer in times of need, according to Josephine Ho, a Moody's vice president and senior analyst.

Moody's, however, noted that China Fortune Land's standalone credit strength is constrained by its small land bank and moderately high level of debt leverage. The agency believes that the company's cash holdings and proceeds from contracted sales will be adequate to meet its maturing debt over the next 12 months.

The stable ratings outlook indicates that the real estate developer will gradually improve its debt leverage and cash collection, as well as grow its contracted sales and industrial development service revenues.