The credit metrics of Chinese property developers will likely improve over the next year to 18 months as their revenue outpaces growth in debt, Moody’s said on Thursday.
Among the 43 companies it covers in the sector, the rating agency said expects the weighted-average revenue against adjusted debt will rise to 72 per cent by the end of this year and 76 per cent by the end of 2018. That marks a change from 64 per cent for the 12 months ended June 30.
Moody’s analyst Anthony Lee said borrowing and leverage lifted in the first six months of 2017 amid aggressive land acquisition as developers moved to boost market share.
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