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Wolves owner Fosun's financial improvement recognised

Wolves owner Fosun has seen an improvement in its finances that has been recognised by an international rating agency.

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Fosun chairman Guo Guangchang

S&P Global Ratings has raised China-based Fosun International’s rating outlook to stable.

It follows a streamlining of the organisation and easing of Fosun's short-term liquidity pressure.

Non-core Asset disposals brought a cash inflow of about £3.3 billion in 2022 and there has been stable credit support from banks which enabled Fosun's successful repayment of all concentrated maturing bonds in the past three quarters.