Sun Hung Kai Properties Ltd. (SHKP) is likely to remain committed to prudent financial management and maintaining its creditworthiness due to solid cash generation and disciplined land acquisitions. We expect the company's diversified and sizeable rental portfolio to partially mitigate pressure on its operating margin from residential development in Hong Kong. We revised our rating outlook on SHKP to stable from negative. At the same time, we affirmed our 'A+' long-term issuer credit rating on SHKP and 'A+' issue ratings on the company's guaranteed senior unsecured notes. The stable rating outlook reflects our expectation that SHKP will continue to generate stable operating cash over the next one to two years. At the same time, we expect the company to remain
