Fitch Affirms LONGFOR GROUP at 'BB-' With Outlook Revised to Stable
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Fitch Ratings has revised LONGFOR GROUP's outlook to Stable from Negative and affirmed its Long-Term Foreign-Currency Issuer Default Rating at 'BB-'. The ratings are supported by a strong investment property portfolio and stable income from property management, despite challenges in property development. Fitch noted that Longfor's debt servicing pressure has eased, with a significant reduction in maturing unsecured debt. The company reported available cash of RMB18 billion and continues to generate positive operating cash flow, ensuring sufficient liquidity to meet near-term obligations.
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