16.07.2015 05:07:00

Evergrande Real Estate Group Limited -- Moody's: Evergrande's planned acquisition of projects in Chengdu will raise its debt leverage

Hong Kong, July 16, 2015 -- Moody's Investors Service says that Evergrande Real Estate Group Limited's (B1 negative) announcement that it will acquire three mixed-use property projects in Chengdu and an investment in a limited partnership for a total consideration of HKD6.5 billion is credit negative for Evergrande. This is because the planned acquisition, if completed, will raise Evergrande's already high debt leverage and modestly weaken its liquidity profile.

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