Positive Revision! Fosun's Ratings Affirmed by S&P
HONG KONG, May 31, 2023 /PRNewswire/ -- International rating agency S&P Global Ratings issued a report, raising Fosun International Limited's (HKEX stock code: 00656, "Fosun International") rating outlook to stable.
- At the same time, sound banking relationships enabled sufficient sources of liquidity amid turbulence in the bond market.
- The significant asset disposals and stable credit support from banks enabled Fosun's successful repayment of all concentrated maturing bonds in the past three quarters.
- As of the end of March 2023, Fosun successfully brought down holding-company debt by about RMB24.0 billion to RMB93.0 billion.
- S&P Global Ratings affirmed its long-term issuer credit rating and guaranteed senior unsecured notes rating on Fosun, raising Fosun's rating outlook from negative to stable.