HONG KONG SAR - Media OutReach - 26 November 2020 – CIFI Holdings (Group) Co. Ltd. (“CIFI” or the “Group”, HKEx stock code: 884), a leading real estate developer and investor in first-, second- and robust third-tier cities in China, is pleased that Moody’s Investors Service (“Moody’s”) has upgraded the corporate family rating (CFR) of CIFI Holdings (Group) Co. Ltd. to Ba2 from Ba3 and upgraded the senior unsecured debt rating on its existing notes to Ba3 from B1. The outlook is stable. This reflects CIFI’s business development, management efficiency, and credit quality improvement in recent years have been recognized by Moody’s. Moody’s rating report expected that CIFI’s credit metrics will improve over the next 12 to 18 months, supported by strong revenue growth and controlled debt growth. Moody’s believed that with CIFI’s more geographically diversified operations and continued strong access to funding, will enable the Group to deliver solid business growth over the next 12 to 18 months. The report stated that CIFI contracted sales grew 12% to RMB174.4 billion in the first ten months of 2020, despite the negative impact on sales from coronavirus outbreak, especially in the first half of the year. This reflects the Group’s ability to execute its… Read full this story
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CIFI’s Corporate Family Rating (CFR) Upgraded to 'Ba2' and Senior Unsecured Debt Rating on Its Existing Notes Upgraded to 'Ba3' by Moody's Outlook Stable have 328 words, post on bizhub.vn at November 26, 2020. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.