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Moody’s lifts Yanzhou Coal
Moody's Investors Service said it upgraded Yanzhou Coal Mining Co. Ltd.'s corporate family rating to Ba2 from Ba3.
At the same time, Moody's upgraded to Ba2 from Ba3 the senior unsecured debt ratings on the bond issued by Yancoal International Resources Development Co., Ltd. and guaranteed by Yanzhou Coal.
The outlook is stable.
“The rating 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 and senior credit officer, said in a news release.
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