Fitch Publishes China Homebuilders Navigator
The sector risk profile defines and groups companies operating in the sector into a 'natural rating territory' based on Fitch's view of the inherent risk profile of the industry. Each company's overall risk profile generally does not stray too far from this rating range.
After assessing the operating environment, then management and corporate governance, the Navigator examines four sector-specific factors for given rating levels. Sector-specific key factors include Customer Recognition, Scale, Operational Depth and Sales Efficiency. Finally, three financial profile factors help capture financial attributes commensurate with particular rating categories.
The report, entitled 'China Homebuilders: Ratings Navigator Companion' is available at 'www.fitchratings.com' or by clicking the link above. This report should be read in conjunction with the 'Introducing Rating Navigators for Corporates' report dated Nov. 5, 2014 and the 'China Homebuilders Ratings Navigator Reference File' dated Feb. 26, 2015.