Fitch lifts West China Cement

Fitch Ratings said it upgraded West China Cement Ltd.'s long-term issuer default rating and senior unsecured rating to BB- from B+.

The outlook is stable.

The upgrades are driven by significant improvement in West China's financial profile as evident in a substantial decrease in net leverage and return to positive free cash flow generation, Fitch said.

Net leverage dropped to 2.1x in 2016 from 3.6x in 2015, the agency said, and it is expected to drop further to 1.8x in 2017 and 1.5x in 2018.

Fitch said it expects the company to maintain current levels of profitability throughout 2017.

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