HONG KONG : Rating agencies Fitch and S&P have put China's Dalian Wanda Commercial Management Group on negative watch on concern that the Hong Kong listing of its unit may damage the group's financial profile.Wanda Commercial is the property services arm of Dalian Wanda Group (DWG), China's largest commer
HONG KONG : Rating agencies Fitch and S&P have put China's Dalian Wanda Commercial Management Group on negative watch on concern that the Hong Kong listing of its unit may damage the group's financial profile.
The listing requires the approval of China's securities regulator and it is not clear when that would be forthcoming. Fitch said if the listing failed"the liquidity and credit profile of Wanda Commercial and DWG may deteriorate". Fitch cited Zhuhai Wanda as saying that if the regulator did not request additional material within five days of the status update, the company would receive a final filing notice shortly and may then proceed with the IPO in Hong Kong.
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