S&P cuts Yanzhou Coal

Standard & Poor's said it lowered its long-term corporate credit rating on Yanzhou Coal Mining Co. Ltd. and its long-term issue rating on the company's senior unsecured notes to BB+ from BBB-.

The outlook is stable.

At the same time, S&P lowered the Greater China regional scale rating on the company and its notes to cnBBB+ from cn A-.

S&P removed all ratings from CreditWatch, where they were placed with negative implications on July 24.

S&P said it lowered the rating on Yanzhou because of its compressed margin and higher leverage.

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