Midea Group Co. Ltd. is gaining market share and broadening its geographic and brand diversity. Proprietary brands now account for more than 70% of its revenue, significantly higher than three years ago. We believe Midea will continue its solid operating performance even though COVID-19 is weighing on consumer sentiment and resulting in general uncertainty. We are revising our outlook on Midea to positive from stable while affirming our 'A-' long-term issuer credit rating on the China-based manufacturer of household appliances. The positive outlook reflects Midea's strengthening market position and likely strong operating performance over the next 12 months. The positive outlook reflects Midea's strengthening market position and likely strong operating performance over the next 12 months. The company has been
