S&P upgrades Yingde Gases

S&P said it raised its long-term issuer credit rating on Yingde Gases Group Co. Ltd. and the issue rating on the company's guaranteed notes to BB- from B+.

The outlook is stable.

“The upgrade reflects our view that Yingde will maintain its financial discipline and fairly prudent investment appetite over the next 12 months. As a result, we believe Yingde's leverage will stay low and its credit metrics will not deteriorate significantly from current levels over the period,” S&P said in a news release.

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