09/22/2023 – 13:10
On Thursday, the 21st, Moody’s revised some ratings of several developers in China, seeing the sector under greater pressure. The agency reported, for example, that it reaffirmed CR Land’s Baa1 rating, but changed the outlook from stable to negative.
The uncertainty about the recovery of the Chinese real estate sector is mentioned in her statement, as in others in the segment.
Moody’s reported that it has placed Jinmao Holdings’ rating under review for possible downgrade. He is currently on Baa3.
In the case of China Overseas Land & Investment, the rating was reaffirmed at Baa1, but the outlook went from stable to negative.
China Vanke also has a Baa1 rating, reaffirmed, but under review for possible downgrade.
Greentown’s is at Ba3, with a change in outlook from stable to negative.
China’s Overseas Grand Oceans Group was reaffirmed at Baa2, also with a change in outlook, from stable to negative.
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