Moody’s ups Yanzhou Coal, debt

Moody's Investors Service said it upgraded Yanzhou Coal Mining Co. Ltd.’s corporate family rating to Ba3 from B1.

The agency also upgraded the senior unsecured debt rating on the bonds issued by Yancoal International Resources Development Co., Ltd. and guaranteed by Yanzhou Coal to Ba3 from B1.

The outlook is stable.

"The upgrade reflects our expectation that Yanzhou Coal's improved credit metrics will be sustained over the next 12-18 months," Gerwin Ho, Moody's vice president, senior credit officer and international lead analyst for Yanzhou Coal, said in a news release.

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