Fitch Affirms Yuexiu Property at 'BBB-'; Outlook Stable

April 27, 2015 7:57 AM

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(The following statement was released by the rating agency) HONG KONG, April 27 (Fitch) Fitch Ratings has affirmed China-based Yuexiu Property Company Limited's (YXP) Long-Term Issuer Default Rating (IDR) at 'BBB-'.

The Outlook is Stable. Fitch has also affirmed YXP's senior unsecured rating at 'BBB-'. The affirmation is premised on YXP's strong market position in Guangzhou, increasing focus on high asset churn model and its moderate leverage level, which has partially mitigated the company's weaker profitabili...

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