Moody’s Investors Service has changed the outlook for Yanlord Land Group to “stable” from “negative” on March 9.

"The change in outlook to stable from negative reflects our expectation that Yanlord's credit metrics will continue to improve over the next 12-18 months, supported by its strong revenue growth and controlled debt increase," says Cedric Lai, a vice president and senior analyst at Moody’s.

For the FY2020, Yanlord has seen a 41% growth y-o-y of total contracted sales to RMB78.5 billion ($16.21 billion), despite the Covid-19 outbreak. This comes after it posted a 103% y-o-y growth for total contracted sales of RMB55.5 billion for the FY2019.

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