China Aoyuan Property Group Limited -- Moody's assigns first-time B2/(P)B3 ratings to China Aoyuan - (Simplified Chinese)
/nwsys/www/images/PBC_147164 ??? ??? – ????? ????? Moody's Investors Service Hong Kong Ltd. ????????? ??? 88 ? ?????? 24 ? ???? (??):852.3758.1350 ???? (??):852.3551.3077 ??? ????? - ???? ????? ???? (??):852.3758.1350 ???? (??):852.3551.3077 ??????: Moody’s Investors Service Hong Kong Ltd. ????????? ??? 88 ? ?????? 24 ? ???? (??):852.3758.1350 ???? (??):852.3551.3077 ??? ????????? 1 ??????????? B2/(P)B3 ?? (?????????????????,???????) ??, 2012 ? 11 ? 8 ?—????????????????????? ?????(??“????”)???? B2 ???????????, ?????????????????? (P)B3 ??? ???????? ??????????????????????????,????? ?????????????????? ????????????,?????????????,????? ????????????? ???? ???????????????:“????? B2 ????????? ???????????????????????????????? ????????????” ?????:“?????,????????????????,?? ?????????,?????????????????????? ?????????????????????,?????????? ?????????” ?????:“ B2 ???????????????????????? ?????????,?????????????????” ??????????????????????????????? ?,??????????????? ????????? 2 ????????????????????? 50 ????,????? B ???????????? ????:“????,????? B2 ?????????????? ?,??????????????????” ????,?????????????,????? EBITDA ???? ?? 25%??????????????????,EBITDA ????? ????? 2-2.5 ?????????? B2 ????????? “??????????????,??????????? 8 ???? ???,?????????? 26 ????????????????? ????,??????????????????”????? ????????????? B3,????????????????? ? 2012 ? 6 ?,????????????????? 20%?????? ??????? /????????????????,??????? ?????????? 15%??? ?????,?????????????????????,???? ???????? ?????,??????????: (1)??????,??????? ????????????,??????????????????? ??;? (2)????????,????????????????? ?;? (3)??????????????? ?????,???????????(?????????????) ???????????? 50%???,??/??????????,? ? EBITDA ?????? 15%,EBITDA ????????? 1.5 ???? ???????????? 55%? ????????????,?????????????: (1)???? ??????????; (2)??????????? 25-30 ?????? ???;?? (3)?????????,??? EBITDA ?????? 30%,EBITDA ????????? 3-3.5 ?,???????????? ?? 40-45%??? ????????? 3 ???????????????????????????? 2009 ? 3 ??? ?«? ??? ?? ??? »( Moody’s Global Homebuilding Methodology)????????,??? www.moodys.com ????? ?? ??????????????? 1997 ????? 2007 ? 10 ???,? ??????????,????????????????????? ? 28 ?????? 2012 ? 6 ?,?????????????? 880 ? ???(?????????,??????????????)? ???? ???????????????????????????????, ???????????(??: One Canada Square, Canary Wharf, London E 14 5FA, UK)???????????? Regulation (EC) No 1060/2009 ? 3 ?? 4 ?????? ?????????????????????? ???????????,??? www.moodys.com? ??????????????????????,????????? ????????????????????(?????????,? ???????????)???????????????????? ???????,???????????????????????? ??,????????????????????????????? ????????,?????????????????????? ?,??????????????????????,??????? ?,?????????????????????????????? ?????? www.moodys.com ???/?????????? ????????????????????,??????????? ???? ????????????????????:??????????? ???????????????????? ???????????????????????????????? ?????????? ???????????,???????????????????? ????,?????????????,??(???)?????? ????????? 4 ????????????,??????????????????? ????????????? ?????????????,??? www.moodys.com ??????? (A) ?? MCO ?????( 5% ??)???,?(B) ?? MCO ???? ????????????????????,?? (C) ?? MIS ???? ???????????????? MCO ?? 5% ????????? ?,??? www.moodys.com ???????????????????? ??????( Moody’s Corporation)?????????,?????? ?????????? ???????????????????????????,??? www.moodys.com ?????????????????? ???????????????,??? www.moodys.com ????/? ?????????? ???????????????????????????????? ??????,???????????,????????????? ???????????????????????????????? ?? www.moodys.com ??????? ??????????????????????????????,? ?? www.moodys.com? Moody’s Investors Service Hong Kong Ltd. ????????? ??? 88 ? ?????? 24 ? ???? (??):852.3758.1350 ???? (??):852.3551.3077 -?- ????????? 5 © 2012,?????????(Moody’s Investors Service, Inc.)?/??????????,?????“??” ( MOODY’S)?????,????? ????????? (“MIS”)???????????????????????????????????? ???????????,??????????????( “?????”)??????????????? ????????????????????????????????????????????????? ?????,?????????????????????????????????,??????:?? ????????????????????????????????????????????????? ???????????????????????,????????????????????????? ????????,???????????????????????????????????????? ????????????????,???????????????????????????????? ???????? ???????????? (?????????)??,??????????,????????????? ??????????????????????????????????????????????,?? ????????????????????????????????????????????????? ????????????????,?????? “???”???,?????????????????? ????,????????????????????????,?????????????,??(?? ?)??????????????????,???????????????????????????? ????????????,??( a)??????????????????????????????? ???????(???????)??????????(?????????????????????? ????????)???????????????????????,?( b)???????????? ??????????????(???????????),??????????,?????????? ??????????????????,?????????????????????????????? ??????????????????????(???)??????????????,??????? ????????????????????????????????????????????????? ????????????????????????????????????????????????? ?????????????????????????? ?? (????(MCO)?????????????)????,????????????(???????? ?????????????)?????????????????,????????????????? ?????????,?????? $1,500 ??? $2,500,000 ???????(MCO)???(MIS) ?????? ??,??? MIS ????????????MCO ??????????????? MIS ????????? ????????????? MCO ?? 5% ???????????????????,????????? ?????? www.moodys.com“???? — ???? — ?????????” ?????? ?????????????????????? Moody’s Investors Service Pty Limited ABN 61 003 399 657 ??, ???????????????,??? 336969????????? 2001 (Corporations Act 2001)? 761G ?? ?????????????????????????,?????????,???? ”????”,??? ?? ”????”????????,???????????????????? 2001 (Corporations Act 2001)? 761G ?????”????” ?????????? ???????, Moody’s Japan K.K.(“MJKK”)? 2010 ? 10 ? 1 ????????????? MJKK ????? ????????????????????????????????,??? “??”(MIS)????? “MJKK”??? MJKK ? Moody's Group Japan G.K.??????????????,? Moody's Group Japan G.K.?????? (MCO)???????? Moody’s Overseas Holdings Inc.????? ??????????????????????????,?????????????????????? ???????????????????????????????,????????????,???? ????????????? ]]>
