Yanlord Land: S&P has downgraded Yanlord's corporate credit rating to B+ from BB-.
The credit rating agency cited that Yanlord's debt situation is unlikely to improve, and that expected revenue growth and scale expansion will not be sufficient to offset its declining profitability and intended debt increase.
Nevertheless, the counter climbed 1% to a peak of $0.99 in the morning session, on sustained positive momentum after Chinese regulators eased mortgage policies yesterday.
At the current price, Yanlord Land is valued at 0.45x P/B vs its 1-year average of 0.7x. Bloomberg consensus has 1 Buy, 2 Holds and 7 Sells on the counter with an average 12-month TP of $0.89.