Vanke credit outlook lowered

Domestic property giant Vanke Co hopes that the cut in the company’s outlook to “negative” by rating agency Standard & Poor’s on Tuesday won’t negatively influence its recent financing, the 21st Century Business Herald reported on Wednesday.

“We will closely scrutinize the market reaction after the change in the rating, and strengthen communication with relevant financial institutions and investors,” Vanke was quoted as saying in the report.

The struggle between Vanke’s management team and its major shareholders has undermined the confidence of the company’s partners, the report noted.