S&P revises Weichai Power view to positive

S&P said it revised the outlook on Weichai Power Co. Ltd. to positive from stable.

“We revised the outlook to positive to reflect Weichai’s enhanced business and financial performances over the next 12-24 months. The company’s performance in the past year has exceeded our expectation, and we expect it to further enhance its business strengths and to continue to deleverage. Weichai has made good progress in improving its scale and business diversification, after expanding its revenue and EBITDA by over 70% in 2016-2018 on the back of strong market conditions and solid track record of integrating its acquisitions,” said S&P in a press release.

The agency affirmed BBB ratings for Weichai, the company’s senior unsecured notes and the BBB- rating on Weichai’s perpetual securities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.