TEXT-Fitch Affirms and Withdraws Radium's 'BB+(twn)' Rating
(The following was released by the rating agency)
HONG KONG, February 24 (Fitch) Fitch Rating has affirmed Taiwan-based Radium Life Tech. Co., Ltd's (Radium) National Long-Term Rating at 'BB+(twn)' with Stable Outlook and simultaneously withdrawn the rating.
The affirmation reflects Fitch's view that the remaining proceeds to be received from the sale of Mehas project in 2013 will relieve pressure on short-term liquidity and lower leverage. Its proven track record in property development and the prime locations of its properties further support Radium's credit profile.
The rating has been withdrawn as it is no longer considered by Fitch to be relevant to the agency's coverage. Fitch will no longer provide ratings or analytical coverage of this issuer.
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