S&P lifts Yanzhou Coal view to positive

S&P said it revised the outlook on Yanzhou Coal Mining Co. Ltd. to positive from stable and affirmed its BB- long-term corporate credit rating on the company.

S&P also affirmed its BB- issue ratings on the two outstanding senior unsecured notes and the B+ issue rating on the outstanding senior unsecured perpetual securities that the company guarantees.

“We revised the outlook to positive after Yanzhou Coal reported financial results for the first nine months of 2017 that were above our expectations, primarily due to substantial increases in coal prices. We expect Yanzhou Coal's financial metrics to improve materially in the next 12 months on favorable industry trading conditions, increasing sales volumes, and declining capital expenditure,” S&P said in a news release.

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