Mar 21, 2021
The upgrade in Outlook reflects the credit rating agency’s expectation of an improvement in the business profile of Sunteck due to acceleration in the already consolidating residential real estate market, with the pandemic-related disruptions having constrained demand and supply from unorganised real estate developers. The outlook upgrade is also supported by the resilient operating performance of Sunteck despite the pandemic. The price point diversity across completed, ongoing and new project launches, prudent financial policies, strong credit metrics and cashflow visibility also provided conviction to the outlook upgrade.
Commenting on the same, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “This affirmation of ‘AA-’ credit rating with upgrade in outlook to ‘Positive’ by India Ratings is a reflection of our continued focus on prudent cash flow management along with financial discipline. Strong operating cash flows has aided u
Sunteck Realty receives upgrade in LT issuer ratings outlook
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Sunteck Realty Limited rating affirmed AA- with the outlook upgraded to Positive
Posted On: 2021-02-25 08:48:36 (Time Zone: Arizona, USA)
Sunteck Realty Limited, Mumbai s premium real estate developer announced its long-term issuer rating affirmation of AA- with the outlook upgraded to Positive by India Ratings & Research (Fitch Group).The short term issuer rating has been affirmed A1+ .
The upgrade in Outlook reflects the credit rating agency s expectation of an improvement in the business profile of Sunteck due to acceleration in the already consolidating residential real estate market, with the pandemic-related disruptions having constrained demand and supply from unorganised real estate developers. The outlook upgrade is also supported by the resilient operating performance of Sunteck despite the pandemic. The price point diversity across completed, ongoing and new project launches, prudent financial policies, strong credit metrics and cashflow visibility also
Wednesday, 24 Feb 2021 10:47 AM MYT
BY ASHMAN ADAM
Fitch Solutions predicted that the main overseers of the wholly-owned Finance Ministry unit would be chosen from among allies of the ruling party in order to curry favour. ― AFP pic
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KUALA LUMPUR, Feb 24 The government’s move to use a special purpose vehicle (SPV) to auction off the 5G spectrum will raise adoption costs for companies and slow down development of the technology in Malaysia, said Fitch Solutions Country Risk & Industry Research.
The Fitch Group unit said the SPV was a departure from the usual mode of an open auction that has typically been used in other Asian countries for the rollout of the next-generation broadband cellular network.