Moody's Investors Service (Moody's) and S&P Global Ratings (S&P) both recently issued the 2020 credit ratings for China State Construction Engineering Corporation (CSCEC), assigning long-term ratings of A2 and A, respectively, with a stable outlook.

Since the company received its first international credit rating in 2015, CSCEC has maintained stable operation in the complex domestic and international environment, withstood the impact of the COVID-19 pandemic, and retained the highest global credit rating in the construction industry for six consecutive years.

According to Moody's, CSCEC is a market leader in the construction industry and has stable profitability in real estate development, and its new contracts that continuously come in will bring sufficient businesses. Meanwhile, CSCEC played an important role in combating the pandemic and completed the construction of the Huoshenshan and Leishenshan hospitals within a very short period of time. Moody's said it believes that CSCEC's long-term operating performance, great reputation, and thorough regional planning will win the company new contracts in various regions.

S&P stated that, despite the impact of the pandemic, CSCEC's revenue will continue to grow at a healthy pace, and the gradually improving diversified revenue structure will support the company to achieve stable profit margins. S&P said it expects that CSCEC will maintain its leading position in the engineering and construction industry with its good reputation, technical expertise, and excellent project delivery records.

Related

Go to Forum >>0 Comment(s)