S&P affirms Zoomlion rating

S&P said it affirmed its B long-term issuer credit rating on Zoomlion Heavy Industry Science and Technology Co. Ltd.

The outlook is stable.

S&P also affirmed its B long-term issue ratings on the senior unsecured notes that the company guarantees.

“We affirmed our ratings because we expect Zoomlion's cash flows and debt leverage to improve over the next 12-18 months amid the ongoing recovery in the construction machinery industry in China,” S&P said in a news release.

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