US credit rating agency Fitch Ratings said Monday in a press release received by the Global Times that China Vanke Co's long-term issuer default rating was BBB+ with stable outlook, and its senior unsecured debt rating was BBB+.
"Vanke's ratings reflect its focus on providing mass market housing to first-time and upgrading buyers, and its significant scale and national presence, which provide operational and cash flow flexibility," said Fitch.
"The ratings are also supported by the company's low leverage, strong contracted sales/debt coverage and funding diversity, which is underpinned by its flexible funding strategy and strong relationships with domestic banks."
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