Fitch Ratings affirmed Poly Real Estate Group Co. Ltd.'s long-term foreign-currency issuer default and foreign-currency senior unsecured ratings at BBB+.
The outlook is stable.
The rating agency said the affirmation is supported by Poly Real Estate's large scale, good-quality land bank in Tier 1 and 2 cities, as well as a strong debt service ability resulting from the company's stable income streams including that from its growing non-development business.
Fitch also highlighted the company's moderate operational and strategic linkage with parent China Poly Group Corp., which gives Poly Real Estate significant funding support.
