Moody's: Winsway unaffected

Moody's Investors Services said it sees no immediate impact on Winsway Coking Coal Holdings Ltd's Ba3 corporate family rating and B1 senior unsecured bond rating from its recent agreement on another coal supply contract with Mongolyn Alt LLC.

The outlook is stable.

"Securing supply on a long-term basis is credit positive and is consistent with Winsway's business strategy, and which Moody's has already factored into the ratings," Ken Chan, a vice president and senior analyst at Moody's, said in a news release.

"With the new contract in place, around 70% of Winsway's targeted Mongolian coal procurement volume in 2012 will be backed by long-term contracts, up from below 50% currently."

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