Investing

TEXT-S&P Summary: Evergrande Real Estate Group Ltd.

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...

TEXT-S&P cuts Swedish Stena AB to 'BB'; outlook stable

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.

Real estate firm Africa Israel reports dip in profit

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.
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