Moody’s drops West China Cement, debt to B1

Moody's Investors Service said it downgraded West China Cement Ltd.’s (WCC) corporate family and senior unsecured ratings to B1 from Ba3.

The outlook is negative. This concludes the review initiated on July 13.

"The downgrade reflects WCC's weakened credit profile, owing in turn to the ongoing and challenging conditions prevalent in the cement industry," Moody's vice president and senior analyst Gerwin Ho said in a news release.

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