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S&P flags Guangzhou R&F for further rating downgrade

It thinks Chinese developer's cash flows and leverage could weaken more than earlier expectations

Singapore

WEAKENING cashflows and rising debts are putting the credit ratings of Hong Kong-listed Chinese developer Guangzhou R&F Properties Co - which is seeing slower sales in its home ground and Iskandar Malaysia - at risk of further downgrades.

Standard & Poor's (S&

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