Greenland Holding Group Company Limited: Update to key credit factors - Moody's Global Credit Research

Greenland Holding Group Company Limited: Update to key credit factors

Greenland Holding Group Company Limited: Update to key credit factors - Moody's Global Credit Research
Greenland Holding Group Company Limited: Update to key credit factors
Published Nov 29, 2016
8 pages (3979 words) — Published Nov 29, 2016
Price US$ 250.00  |  Buy this Report Now

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Brief Excerpt:

...Greenland Holding Group Company Limited's Ba1 corporate family rating reflects the company's track record of delivering strong growth for its property development business and establishing leading market positions in key markets owing to its highly diversified geographical coverage in China (Aa3 negative). The company's rating also considers its ability ¡ through diversified property product lines, including various types of residential and commercial properties ¡ to manage market volatility. Another important rating driver is Greenland Holding's strong ability to access funding and acquire land due to its status as a local state-owned enterprise (SOE), as well as its strong corporate status in Shanghai, given its important role in the urbanization of the city. A key constraint on Greenland Holding's rating is its debt-funded growth strategy, which has resulted in high debt leverage and weak credit metrics. In addition, its rating is also tempered by its volatile non-property businesses....

  
Report Type:

Credit Opinion

Company:
Issuer
Greenland Holding Group Company Limited
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Greenland Holding Group Company Limited: Update to key credit factors - Credit Opinion – 2018/02/06 – US$ 250.00 – ...Greenland Holding Group Company Limited's (Greenland Holding) Ba1 corporate family rating reflects the company's (1) track record of delivering strong growth in its property development business and establishing leading market positions in key markets, and (2) highly diversified geographic coverage in China (A1 stable). The company's rating also takes into account its ability (through diversified property product lines, including various types of residential and commercial properties) to manage market volatility. Another important rating driver is Greenland Holding's strong ability to access funding because of its status as a local state-owned enterprise (SOE). A key constraint on Greenland Holding's rating is its rapid business growth strategy, which has resulted in sizable funding needs and weak credit metrics. In addition, the company's rating is also tempered by its volatile business performance....

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MLA:
Moody's Global Credit Research. "Greenland Holding Group Company Limited: Update to key credit factors" Nov 29, 2016. Alacra Store. Apr 25, 2024. <http://www.alacrastore.com/moodys-credit-research/Greenland-Holding-Group-Company-Limited-Update-to-key-credit-factors-PBC_1051505>
  
APA:
Moody's Global Credit Research. (). Greenland Holding Group Company Limited: Update to key credit factors Nov 29, 2016. New York, NY: Alacra Store. Retrieved Apr 25, 2024 from <http://www.alacrastore.com/moodys-credit-research/Greenland-Holding-Group-Company-Limited-Update-to-key-credit-factors-PBC_1051505>
  
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