The rating on Evergrande Real Estate Group Ltd. reflects the company's aggressive growth appetite, debt-funded expansion, short operating and financial management track record as a large-scale developer, and weak corporate governance history. Evergrande's high-volume and large-project-size business model could expose the company to execution risk in small markets. The company's large, low-cost, and geographically diversified land bank, competitively priced products, and good execution because...
The expected improvement predominantly reflects the last drilling ship that will begin operating in the second quarter, and the LNG vessels that will contribute through the full year. We anticipate some modest improvement in the group's ratio of adjusted FFO to debt in 2013.
Israeli real estate developer Africa Israel Investments reported a drop in first-quarter net profit as a result of a drop in financing income and higher tax expenses.
The number of Americans signing contracts to purchase previously owned homes fell in April to a four-month low, indicating the U.S. housing recovery remains uneven, according to a report released Wednesday.
It's already shaping up to be a summer of discontent for investors, so it's time to manage your expectations. To a global investor, there are conflicting signals everywhere: Although the U.S. economy continues to chug along like a tugboat, the "fiscal cliff" of massive tax increases and budget cuts still looms at the end of the year. Then there is the euro zone opera with the fat lady singing in Greece, Spain and elsewhere.
China does not need massive fiscal stimulus to stabilize growth and calm investors fretting that the global economy may slip back into a similar crisis as 2008-2009, top policy advisers said on Wednesday.
Hiroshi Kosaka has an unorthodox pitch for his realty business: instead of pictures of swanky condominiums his website features Japanese debt statistics and budget meltdown scenarios usually left to credit rating agencies.
Government debt prices rose on Tuesday as worries about contagion over the deterioration of Spain's banking system stoked demand for bonds and other low-risk investments.
These strengths, however, are tempered by JRF's somewhat weak financial profile compared with its business profile, given that its debt-to-capital ratio remains slightly high, at a level near the upper end of the target range set under its financial policy. We view this as a risk factor for the J-REIT's credit quality.