Midea Group Co. Ltd. will sustain its solid operating performance while strengthening its business position in existing markets over the next 12-24 months. We also expect the household appliances manufacturer to maintain its good financial discipline and conservative financial policy. Midea will shift some of its focus toward developing business-oriented products such as elevators and medical devices, etc. But these efforts are unlikely to diminish the company's strength in HVAC and consumer products. We are raising our issuer credit rating on Midea to 'A' from 'A-'. The stable outlook reflects our expectation that Midea will grow faster than the industry in its existing segments and expand into business-oriented products while maintaining its strong credit measures. The stable outlook on Midea
