Fitch Revises Sun Hung Kai Properties' Outlook to Positive, Affirms 'A' Rating
MT Newswires Live
12 hours ago
Fitch Ratings revised the outlook on Sun Hung Kai Properties (HKG:0016) to positive from stable and affirmed its long-term issuer default rating at 'A', according to an Oct. 2 ratings commentary.
The positive outlook reflects Fitch's expectation that rental income will continue to grow as newly completed investment properties ramp up and Hong Kong's office market recovers.
Fitch expects Sun Hung Kai to maintain a conservative capital structure, with recurring EBITDA net leverage falling to 2.8x in fiscal 2026 from 3.9x a year earlier.
The rating agency forecasts rental revenue growth at a low-to-mid single-digit rate through fiscal 2029.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.