On April 15, international rating agency Moody's released its latest credit assessment for LONGFOR GROUP (00960), affirming the company's corporate rating at B1 with a "Stable" outlook. Moody's indicated that the stable outlook reflects its expectation that the company will continue its transition toward a business model led by recurring income. By steadily expanding the scale of its operations and service businesses, LONGFOR GROUP is anticipated to maintain positive operating cash flow while preserving strong liquidity. According to disclosures, as of the end of 2025, the company’s operating cash flow, including capital expenditures, had remained positive for three consecutive years, with a net inflow of RMB 5.8 billion recorded in 2025. By the end of 2025, LONGFOR GROUP's interest-bearing debt stood at RMB 152.8 billion, representing a reduction of RMB 23.5 billion, or 13%, compared to the end of 2024. Supported by incremental loans against investment properties and positive operating cash flow, the company has successfully navigated its peak debt period. Moody's acknowledged LONGFOR GROUP's stable income from commercial operations and property services, strong brand influence, disciplined financial management, and sound liquidity. The agency noted that LONGFOR GROUP maintains a good liquidity position and expects the company's debt maturity profile to gradually stabilize over the coming years. Moody's forecasts that LONGFOR GROUP will continue to generate positive operating cash flow and utilize these funds to gradually reduce debt over the next one to two years. It is projected that the company's on-hand cash, combined with its operating cash flow, will be sufficient to cover short-term debt and land payments due over the next 12 to 18 months. Earlier, another rating agency, S&P, also affirmed LONGFOR GROUP's liquidity position in a report. S&P highlighted that the company benefits from business diversification, with its non-property development segments generating stable cash flow, which mitigates risks associated with the current market downturn and supports overall liquidity. Furthermore, prudent financial management is expected to continue underpinning the company's debt-servicing capability.