S&P: Yanzhou notes BBB-

Standard & Poor's said it assigned its BBB- long-term corporate credit rating to Yanzhou Coal Mining Co. Ltd. The agency said it also assigned its cnA- Greater China credit scale rating to the company. The outlook is stable.

At the same time, the agency said it assigned its BBB- issue rating and cnA- Greater China credit scale rating to the proposed issue of senior unsecured notes that Yanzhou Coal unconditionally and irrevocably guarantees.

"The rating on Yanzhou Coal reflects the company's bb+ stand-alone credit profile and our expectation of a moderately high likelihood that Shandong's provincial government will provide sufficient and timely extraordinary support to the company in the event of financial distress," said S&P credit analyst Lawrence Lu in a news release.

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