WebMar 31, 2024 · On November 24, Fitch announced that it would downgrade Aoyuan's long-term foreign currency issuer default rating, senior unsecured rating, and outstanding senior unsecured U.S. dollar notes rating from “B-” to “CCC-”, and the recovery rate rating is “RR4”. Removed from the negative watch list. WebDec 7, 2024 · Aoyuan is one of the 30 largest property developers in China, with about 370 projects with a total gross floor area of around 57 million square metres at end-2024. …
Fitch Withdraws China Aoyuan Group
Aoyuan is a middle-sized China property developer. It has a solid base in Guangdong province, which accounted for 28% of total land bank by GFA at end-2024, while showing a greater presence in major economic zones - including the Yangtze River Delta and central and western China, which together represent … See more Leverage Rose on Land Purchases: Aoyuan's proportional consolidated leverage exceeded the negative rating trigger of 40% by end-2024 after it spent CNY45 billion on … See more Fitch's Key Assumptions Within Our Rating Case for the Issuer: - CNY105 billion-109 billion of attributable sales in 2024-2024; - 6% rise … See more Aoyuan's contracted sales are larger than the CNY50 billion-70 billion (on an attributable basis) of 'BB-' peers, including Central China Real Estate Limited (BB-/Stable), Times China Holdings Limited (BB-/Stable) and … See more Factors that could, individually or collectively, lead to positive rating action/upgrade: - We will revise the Outlook to Stable if … See more WebMay 26, 2024 · The rating is, however, constrained by high debt leverage and the execution risk in China Aoyuan's rapid business expansion. Moody's believes China Aoyuan's … opti pharm ag
S&P affirms China Aoyuan Group
WebFor credit ratings that are derived exclusively from an existing credit rating of a program, series, category/class of debt, support provider or primary rated entity, or that replace a … WebDec 29, 2024 · Cash-strapped developer China Aoyuan Group tumbled to its lowest level in almost six years after it was summoned by the Higher Court of Hong Kong for guaranteeing US$131 million in debt for a... WebDec 31, 2016 · During the year, three major international credit rating agencies unanimously upgraded the rating outlook of Aoyuan to "Positive", and Fitch Ratings further upgraded the credit rating of Aoyuan to "BB-". As at the end of 2016, the Group's total land bank was approximately 14.65 million sq.m. in GFA. opti pharma inc