(The following statement was released by the rating agency)
HONG KONG, December 29 (Fitch) Fitch Ratings has upgraded China
Aoyuan Property
Group Limited's (Aoyuan) Long-Term Foreign-Currency Issuer
Default Rating (IDR)
to 'BB-' from 'B+'. The Outlook is Stable. Fitch has also
upgraded Aoyuan's
senior unsecured rating and the ratings on its outstanding US
dollar bonds to
'BB-' from 'B+'.
Aoyuan's contracted sales have continued to increase robustly
since Fitch placed
the rating on Positive
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