(26 January 2010) Moody’s Investors Service has upgraded China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688) issuer and bond ratings to Baa2.
According to Moody’s, the ratings outlook is stable. The upgrade reflects COLI’s solid and stable financial profile, which is supported by its disciplined approach to managing the business expansion. Moody’s considered its projected adjusted net debt/ capitalization of 25% to 30% and EBITDA interest coverage of 9 to 11x over the coming two years.
“The Baa2 ratings continue to reflect COLI’s leading market position in China’s property sector, with its established track record in business execution through the cycle and strong cash flow generating ability”, “The ratings outlook is stable, reflecting Moody’s expectation that COLI will maintain its discipline and prudence while pursuing further expansion “, quoted from Moody’s analysis report for COLI.
Upholding the philosophy of “Exercise caution in details and implementation. Build a strong foundation to seek greater success”, COLI is devoted to offering exquisite products and implementing professional management, as well as to utilize its land, human, financial and brand resources to stably implement its evergreen and sustainable growth strategy, ultimately heading towards a brighter and more successful future.
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