YANLORD Land Group has been given an outlook rating of " stable" , an improvement from " negative" , by S& P Global Ratings.

 

The credit rating agency said: " The stable outlook reflects our view that Yanlord will moderately grow its contracted sales and accelerate project delivery, while better managing its debt-funded land replenishments over the next 12-24 months."

 

S& P Global Ratings' analytical report was filed to the Singapore Exchange by the mainboard-listed company on Thursday.

 

It also affirmed the " BB-" long-term issuer credit rating on Yanlord, as well as the " B+" long-term issue rating on the China-based residential property developer' s guaranteed senior unsecured notes.

 

S& P Global Ratings noted that the company' s moderate investment and expansion appetite will help it to maintain its debt level and temper the credit impact of its compressed profitability.

 

Further, it said Yanlord' s good market standing, with a focus on the higher-end residential segment in higher-tier cities, will support its operating cash flow.