Report
EUR 652.68 For Business Accounts Only

Times Property Holdings Limited: Covenant Quality Post-Sale Snapshot: US$500m 6.25% Senior Notes due 2021

CORPORATES ISSUER IN-DEPTH 11 January 2018 Source Documents: Offering Memorandum (9 Jan 2018) Peer Group: » Homebuilding See Snapshot User’s Guide for terminology, analytical criteria and our ranking of covenant structures. This report contains Moody's analysis of the principal protections and weaknesses of the covenant package of the Notes based on information contained in the Offering Memor
Underlying
Times China Holdings Ltd.

Times Property Holdings is a property developer in China, focusing on the development of mid-market to high-end residential properties. Property development is the development of residential and commercial properties for sale. Property leasing is the development, leasing and sub-leasing of commercial properties owned by Co. or independent third parties. Property management is the provision of property management services to Co.'s residential customers. Co. has expanded its business to Guangzhou, Foshan, Zhuhai, Zhongshan, Qingyuan and Changsha.

Provider
Moody's Investors Service
Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

  • 130 countries
    11,000 corporate issuers
    21,000 public finance issuers
    76,000 structured finance obligations



Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.



Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions. 

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