Fitch views West China Cement negatively

Fitch Ratings said it revised West China Cement Ltd.’s outlook to negative from stable.

“The negative outlook reflects the execution risks in its rapid expansion outside China, which has resulted in large negative free cash flow (FCF) and raised uncertainty over its ability to deleverage to below 2.5x in the next 12-18 months. The affirmation reflects the still stable domestic operations,” the agency said in a press release.

Fitch also affirmed the BB issuer and senior unsecured debt rating and BB rating on West China’s $600 million of senior unsecured notes due July 2026.

© 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.