S&P cuts Yanlord's rating to negative

Singapore

STANDARD & Poor's (S&P) Ratings Services said on Wednesday that it has revised its outlook on Yanlord Land Group to negative from stable.

It also affirmed its BB- long-term corporate credit rating on the China-based property developer and its BB- long-term issue rating on the company's outstanding senior unsecured notes. As a result of the revision, S&P lowered its long-term Greater China regional scale ratings on Yanlord and the notes to cnBB from cnBB+.