S&P: China Shanshui remains on negative watch

Standard & Poor’s said China Shanshui Cement Group Ltd.’s BB- long-term corporate credit rating and cnBB long-term Greater China regional scale rating remain on CreditWatch with negative implications.

The agency also said it kept on CreditWatch with negative implications the B+ long-term issue rating and cnBB- Greater China regional scale rating on the company’s outstanding senior unsecured notes.

The ratings were initially placed on negative watch in April, S&P said.

The agency said it kept the ratings on CreditWatch because China Shanshui is yet to finalize any concrete refinancing plan for its debt obligations due in the next 12 months.

China Shanshui’s liquidity sources for the next 12 months may not be sufficient to meet its liquidity needs, S&P said.

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