Moody’s ups West China Cement to stable

Moody's Investors Service said it changed the outlook on West China Cement Ltd.’s B1 corporate family rating and B1 senior unsecured bond rating to stable from negative.

At the same time, the agency affirmed both ratings.

"The change in outlook to stable reflects an improvement in WCC's profitability and liquidity, owing to higher cement prices in its key markets," Moody's vice president and senior analyst Gerwin Ho said in a news release.

West China Cement’s revenue grew 6% year-on-year in 2016, driven by a 3% year-on-year improvement in its average selling prices and 4% year-on-year growth in its sales volumes, the agency explained.

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