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....

  
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Credit Opinion

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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....

Greenland Holding Group Company Limited: Update to key credit factors - Credit Opinion – 2017/07/24 – US$ 250.00 – ...Greenland Holding Group Company Limited's (Greenland Holding) Ba1 corporate family rating reflects (1) the company's track record of delivering strong growth in its property development business and establishing leading market positions in key markets, and (2) its highly diversified geographic coverage in China (A1 stable). 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 weak credit metrics. In addition, the company's rating is also tempered by its volatile business performance....

Moody's assigns provisional (P)Ba3 to Greenland Hong Kong's proposed perpetual capital securities (Chinese) - Rating Action – 2016/07/25 – US$ 180.00 – ¬ 2016 (Moody's Corporation) (Moody's Investors Service, Inc.) Moody's Analytics, Inc./("") ("MIS") ("") Moody's Analytics, Inc ( ) "" () (a) (b) () ("MCO") ( ) 1,500 2,500,000 MCO MIS MIS MCO ...

Moody's assigns provisional (P)Ba3 to Greenland Hong Kong's proposed perpetual capital securities - Rating Action – 2016/07/20 – US$ 180.00 – ...Rating Action: Moody's assigns provisional (P)Ba3 to Greenland Hong Kong's proposed perpetual capital securities...

Moody's assigns Ba3 to Greenland Hong Kong's proposed senior notes (Chinese) - Rating Action – 2016/07/20 – US$ 180.00 – ¬ 2016 (Moody's Corporation) (Moody's Investors Service, Inc.) Moody's Analytics, Inc./("") ("MIS") ("") Moody's Analytics, Inc ( ) "" () (a) (b) () ("MCO") ( ) 1,500 2,500,000 MCO MIS MIS MCO ...

Greenland Holding Group Company Limited: Covenant Quality Pre-Sale Snapshot: U.S.$_m _% Notes issued under the U.S.$2bn MTN programme - Covenant Quality Assessment – 2016/07/18 – US$ 750.00 – ...Historical financial data (as of Dec./31/2015) Total assets = US$92,691.4 Total Debt = US$37,151.1 (All figures in US$ millions unless otherwise noted) (Ratios may vary from Moody's adjusted ratios) See Snapshot User's Guide for terminology, analytical criteria and our ranking of covenant structures. This report contains Moody's analysis of the principal protections and weaknesses of the covenant package of the Notes based on information contained in the Preliminary Supplemental Offering Circular dated July 15, 2016....

More from Moody's Global Credit Research

Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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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. May 16, 2021. <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 May 16, 2021 from <http://www.alacrastore.com/moodys-credit-research/Greenland-Holding-Group-Company-Limited-Update-to-key-credit-factors-PBC_1051505>
  
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