Our credit view of this issuer reflects its high likelihood of extraordinary government support, constrained by its high leverage because of debt-funded investments in PPP projects.
Our credit view of this issuer reflects its strong business position, good revenue visibility, constrained by its high leverage because of investments in PPP projects.
Our credit view of CCCC reflects its large scale, strong business position, good revenue visibility and strong government support via its parent, constrained by its high debt leverage.
CCCC’s proposed asset swap and separate listing of its research institutes is credit positive, but has immaterial direct impact on the company’s leverage given the small size of the offering
Our credit view of CCCC reflects its large scale, strong business position, and good revenue visibility, offset by its high debt leverage because of investments in PPP projects.
Our credit view of CCCC reflects its strong market position in infrastructure development and high government support, offset by its high debt leverage due to its PPP investments.
Our credit view of CCCC reflects its large scale, revenue visibility supported by strong orders, high debt leverage and our expectation of high government support through its parent.
Our credit view of China Communications Construction, reflecting its elevated leverage due to PPP related debt and slow EBITDA growth due to the coronavirus impact especially in overseas.