S&P affirms Yanzhou Coal

Standard & Poor's said it affirmed its BBB- long-term corporate credit rating on Yanzhou Coal Mining Co. Ltd. The outlook is stable.

S&P also affirmed its BBB- issue rating on the outstanding senior unsecured notes that the company guarantees. At the same time, S&P affirmed the cnA- Greater China regional scale rating on the company and the notes.

"We affirmed the ratings because we expect Yanzhou's financial performance to improve over the next 12-18 months despite a weak performance in the first quarter of 2013," said S&P credit analyst Jian Cheng in a news release.

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