(The following statement was released by the rating agency) HONG KONG, September 20 (Fitch) Shimao Property Holdings Limited's (Shimao; BBB-/Stable) ratings benefit from its ongoing strategy to optimise its business, says Fitch Ratings.
The China-based homebuilder has strengthened its credit metrics by improving operational metrics while keeping its asset base stable. Better market conditions and product rationalisation supported Shimao's more efficient sales, which was reflected in the improved sell-through rate of new and existin...
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