Home News Credit downgrade

CDL's Sincere Property RMB Bonds downgraded to AA-

Felicia Tan
Felicia Tan2/19/2021 7:32 PM GMT+08  • 1 min read
CDL's Sincere Property RMB Bonds downgraded to AA-
The credit rating downgrade has no impact on CDL’s borrowings; the group is not committed to the obligations of these bonds.
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China Lianhe Rating Co has downgraded the issuer and bond credit rating of Sincere Property’s five corporate bonds to AA- from AA.

Sincere Property is a joint venture (JV) of property group City Developments Limited (CDL).

The bonds, which total some RMB3.04 billion ($622.3 million), will mature in 2021.

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