Fitch affirms Winsway

Fitch Ratings said it has affirmed Winsway Coking Coal Holdings Ltd.'s long-term foreign currency issuer default rating at BB, with stable outlook.

This follows regulatory approval for Winsway's acquisition of Grand Cache Coal Corp.

The agency said it has also affirmed Winsway's senior unsecured rating at BB.

According to Fitch, Winsway will inject about $390 million as equity interest in a joint venture that is being used as a vehicle to make the acquisition.

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