Moody's: Yanzhou Coal negative

Moody's Investors Service said it changed the outlook for Yanzhou Coal Mining Co Ltd.'s Baa3 issuer and senior unsecured bond ratings to negative from stable.

"The change in outlook reflects the weaken-than-expected third-quarter performance of Yanzhou Coal due to cost pressures for its newly acquired Australian operations and the challenging operating environment for the coal mining industry," Moody's vice president and senior credit officer Ivan Chung said in a news release, adding, "There remain uncertainties as to whether Yanzhou Coal can restore its financial profile to a level commensurate with its Baa3 rating in the next 12-18 months."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.