Fitch rates China Shanshui Cement notes BB-

Fitch Ratings said it assigned a final rating of BB- to the $400 million 10½% senior unsecured notes due 2017 issued by China Shanshui Cement Group Ltd.

The final rating is in line with the expected rating assigned April 9, the agency said.

The outlook revision reflects an improved competitive landscape in Shandong, Shanshui's core market, Fitch said, and the company's reduced capital expenditure plans.

The ratings are supported by its strong market position in Shandong, the agency said. Fitch said the company is one of 12 Chinese cement companies supported by the Chinese government.

The ratings are constrained by the cyclical nature of the cement industry, the agency said, and the more competitive nature of Shanshui's new markets outside Shandong Province.

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