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Fitch affirms Yuexiu Property ratings

Fitch Ratings affirmed Yuexiu Property Co. Ltd.'s long-term foreign-currency issuer default rating at BBB-, with a stable outlook.

The rating agency also affirmed the Hong Kong-based and -listed real estate developer's senior unsecured rating at BBB-.

Fitch assesses Yuexiu Property's stand-alone rating at BB to reflect its moderate leverage, robust market position in China's Guangzhou municipality, geographic diversification and enhanced operational cost controls.

The rating agency noted that the above-mentioned factors should help stabilize the company's profitability over the next two to three years.